Subject: FW: Brazil trade idea [C]
From: Vahe Stepanian
Date: Mon, 28 Mar 2016 13:27:58 -0400
To: Paul Morris ‹ >
Classification: Confidential
FYI, meant to CC you. Will add you if they come back.
Thanks,
Vahe
From: Vahe Stepanian
Sent: Monday, March 28, 2016 1:20 PM
To: Richard Kahn
Cc: Daniel Sabba; Ariane Dwyer
Subject: RE: Brazil trade idea [C]
Classification: Confidential
Rich — indicatively, Southern Financial can purchase 5mm PETBRA 5 01/27/21
@ —82
Brazil 5y CDS (6/20/21 maturity) is currently @ 380 x 385.
We will need to refresh before trading. Please let us know if you have
questions.
Thank you,
Vahe
From: Richard Kahn [mailto:
Sent: Monday, March 28, 2016 1:08 PM
To: Vahe Stepanian
EFTA01477762
Cc: Daniel Sabba
Subject: Brazil trade idea
can you please provide pricing on the following:
Buy
Buy CDS Protection
Bond:
PETBRA 5 101/27/21
Contract:
Brazil 5yr CDS
Issuer:
PETROBRAS GLOBAL FINANCE
Underlying Issuer:
Federative Republic of Brazil
ISIN:
US71645WAR25
Maturity:
06/20/21
Ratings:
EFTA01477763
B3/B+/BB+
Coupon:
100 bps
Ranking:
Sr Unsecured
Spread:
396 bps
Richard Kahn
HBRK Associates Inc.
575 Lexington Avenue 4th Floor
EFTA01477764