This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Braskem Idesa’s Dollar Bonds Tick Higher
March 23, 2026
Braskem Idesa’s dollar bonds were trading higher across the curve after a supplementary law was passed in Brazil, providing for a tax reduction for chemical companies. Brazkem in a filing noted that the reduction of contribution rates for PIS/Pasep and Cofins taxes are expected to benefit the sector. They noted that the benefit under the tax reduction will be limited to BRL 2bn ($380mn) for the sector. This will be in effect from March until December this year, and from April it will be subject to a 10% reduction. Earlier this year, there was speculation regarding Braskem Idesa potentially approaching Chapter 11 after it defaulted on its interest payments and failed to secure a restructuring deal.
Braskem Idesa’s 7.45% 2029s were up over 10% last week to trade at 60 cents on the dollar.
Go back to Latest bond Market News
Related Posts:
Sinopec Returns to the Dollar Bond Market for a Second Time in 2017
September 13, 2017
S&P Upgrades Yanlord by One Notch to ‘BB’
March 16, 2018
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.