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Bond Market News
Braskem’s Dollar Bonds Move Higher after Novonor Signs Agreement to Sell Stake
April 21, 2026
Braskem’s dollar bonds moved higher by nearly a point across the curve after Novonor signed an agreement to sell its controlling stake to Shine I FIP, a fund advised by IG4 Capital. The deal involves selling 50.1% of voting shares and 34.3% of total capital. The transaction remains subject to the response of Petrobras, Braskem’s other major shareholder. Petrobras is reviewing the deal and must decide whether to exercise its tag-along rights. Petrobras has previously indicated that a new shareholders’ agreement is necessary before committing further capital.
Braskem’s dollar bonds were trading higher with its 7.25% 2033s up 1.1 points at 54 cents on the dollar.
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