Bond Traders Burned By Odebrecht are in for More Pain

For bond investors in Brazil’s biggest construction company, the pain may have just begun.

Odebrecht Finance’s $519 million of notes due 2025 have handed traders some of the biggest losses in emerging markets after the group’s chief executive officer was arrested June 19 as part of an unprecedented bribery investigation. The bonds have plunged 11.6 percent since Marcelo Odebrecht was detained.

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