SÃO PAULO—Brazilian aircraft manufacturer
Embraer SA raised $1 billion from an overseas bond issue, taking
advantage of low interest rates across the globe.
The bonds will be due in 2025, and the company will pay an
annual yield of 5.091%.
The company said it would use a portion of the net proceeds to
repay outstanding debts and the remainder for general corporate
purposes. Citigroup and Morgan Stanley coordinated the
operation.
In recent days, other Brazilian issuers have taken advantage of
low interest rates from international debt markets, including state
run oil company Petroleo Brasileiro SA, or Petrobras; poultry and
pork producer BRF SA; and media conglomerate Globo.
Embraer, one of Brazil's highest-profile companies, is the
world's third-largest commercial-aircraft manufacturer by sales and
employs more than 18,000 people at its plants in Brazil, China,
Portugal, France and the U.S.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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