Braskem Hits Road

Braskem is set to meet investors next week. The petrochemical producer plans to begin meetings in Europe on Wednesday, January 26, according to investors. Credit Agricole, Deutsche, and Espirito Santo are managing the roadshow. The Ba1/BB+ issuer had been thought last year to be a candidate for both Euro and BRL-denominated issuance. While the global BRL trend that took hold late last year has yet to be revived in 2011, Banco do Brasil has demonstrated this month strong European demand for Brazilian exposure. Braskem’s last bond was a $450m 7.375% perpetual NC5, sold in September through Deutsche Bank, HSBC and Itau.