Brazil's Raizen closes upsized US$725m loan

April 2, 2015 4:37 PM

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The deal from the ethanol producer, which is rated Baa3/BBB/BBB, comes at a time when bond markets have been firmly shut to issuers from Brazil - a country that has been tainted by flagging economic growth and a corruption scandal at state-controlled oil company Petrobras.

The loan market has been somewhat more forgiving at least for high-grade names that have been untouched by a widening kick-back investigation.

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