By Christine Van Dusen
Atlanta, Sept. 21 - Brazil's Banco BTG Pactual priced an $800 million issue of 5¾% 10-year tier 2 notes (Ba1//BB) at 98.14 to yield 6%, a market source said.
The notes were talked at a yield in the 6 1/8% area.
Bradesco BBI, BTG Pactual, Citigroup and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used to increase tier 2 capital and for general corporate purposes.
BTG is a lender based in Sao Paulo.
| Issuer: | Banco BTG Pactual
|
| Amount: | $800 million
|
| Maturity: | Sept. 28, 2022
|
| Description: | Tier 2 notes
|
| Bookrunners: | Bradesco BBI, BTG Pactual, Citigroup, Deutsche Bank
|
| Coupon: | 5¾%
|
| Price: | 98.14
|
| Yield: | 6%
|
| Trade date: | Sept. 21
|
| Settlement date: | Sept. 28
|
| Ratings: | Moody's: Ba1
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6 1/8% area
|
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