Braskem Loan Moves Ahead

Brazil’s Braskem held a bank meeting this week for a $300m, 4-year revolver heard at Libor+175bp, LatinFinance understands. Banks on the trade facility are heard to be Bank of Tokyo Mitsubishi-UFJ, HSBC, and Standard Chartered. Commitments are due July 19 for the loan, which offers MLA spots at 100bp, lead arrangers at 85bp, arrangers at 75bp, co-arrangers at 65bp and participants at 55bp, with respective tickets of $70m, $50m, $35m, $25m, and $15m. The deal for the petrochemical subsidiary of Odebrecht’s is expected to close by the end of July.