Foreign debt financing by Brazilian issuers surges in 2024 [Yahoo! Finance Canada]
Braskem SA ADR (BAK)
US:NYSE Investor Relations:
braskem.com.br/ri/home-en
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Source: Yahoo! Finance Canada
The biggest issuer so far in the year was the National Treasury, with $6.5 billion in bonds, including a $2 billion offer of sustainable debt. Issuances by the government serve as benchmarks for private offers, according to bankers. Brazilian companies, meanwhile, have increased their foreign borrowings in recent months, attracted by lower rates as well as a larger pool of long-term investors abroad than at home. Together, financial institutions and companies have raised $11.1 billion in international bonds as of September, compared with $11.3 billion in the full year of 2023, according to Anbima. Local companies are often able to issue debt at longer maturities outside of Brazil, according to Carlos Moura, chief financial and investor relations officer at fuel company Raízen, which also tapped the green bond market twice this year, raising a total of $2.5 billion. Both offers were oversubscribed. Offering green debt securities can substantially increase demand, according to
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BAK
Sec Filings
- 12/19/24 - Form 6-K
- 12/16/24 - Form 6-K
- 12/11/24 - Form 6-K
- BAK's page on the SEC website