Brazil’s OGX Bonds Rise, Are Most Actively Traded Following Sale
The bonds were the most actively traded dollar-denominated corporate debt today, according to Trace, the bond-price reporting system of the Financial Industry Regulatory Authority. OGX’s bonds due 2022 rose 1.4 cents to 101.4 cents on the dollar at 1:37 p.m. New York time, pushing the yield down 22 basis points, or 0.22 percentage point, to 8.16 percent.
The Rio de Janeiro-based company sold $1.06 billion of the notes to yield 8.375 percent yesterday. Banco Bradesco SA (BBDC4), Banco BTG Pactual SA, Credit Suisse Group AG, HSBC Holdings Plc, Itau Unibanco Holding SA (ITUB4), JPMorgan Chase & Co. and Morgan Stanley arranged the transaction.
Dealers conducted 322 trades of the OGX bonds today, according to Trace.
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