Braskem Bonds Gain as Alagoas, IG4 Sale Talks Offset Earnings

Braskem’s dollar bonds climbed on Wednesday, following news that the company struck an agreement with the Brazilian state of Alagoas to settle an environmental dispute. Prospects for the exit of its indebted shareholder also boosted sentiment.

• Dollar notes due in 2030 gain 2.75 cents to trade at 39.25 cents on the dollar at 9:09 a.m. in New York on Wednesday, according to Trace data
  • NOTE: US bond markets were closed on Tuesday for Veterans day
• The developments offset Braskem’s weak earnings, as the company continued to burn cash in the third quarter, with $1.3 billion at hand as of ...