Brazil's Banco BMG talks $300 million notes at 10¼% area

By Christine Van Dusen and Paul A. Harris

Atlanta, Oct. 27 - Brazil's Banco BMG talked its $300 million tier 2 notes (expected Ba3) at the 10¼% area, according to a market source.

UBS, BTG Pactual, Morgan Stanley and Santander are the bookrunners for the Rule 144A and Regulation S deal.

The bonds are non-callable for 10 years. Proceeds will be used for general corporate purposes and to increase tier 2 regulatory capital.

The roadshow for the Belo Horizonte, Brazil-based financial services company ends Wednesday in Boston.

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