By Reshmi Basu
New York, Jan. 20 - The Republic of Brazil priced €500 million bonds due 2015 (B1/B+) that were reoffered to yield 7.55%, according to market sources.
The securities were priced at 100.30 but reoffered at 98.80.
At the reoffer price, the spread was 398.5 basis points.
The deal came near price guidance. Guidance had been set in the area of 7½% early Thursday morning.
BNP Paribas and Deutsche Bank ran the deal.
| Issuer: | The Republic of Brazil
|
| Amount: | €500 million
|
| Issue: | Euro-denominated global bonds
|
| Maturity: | Feb. 3, 2015
|
| Coupon: | 7 3/8%
|
| Issue price: | 100.30
|
| Reoffer price: | 98.80
|
| Yield: | 7.55% (at reoffer price)
|
| Spread: | 398.5 basis points (at reoffer price)
|
| Pricing date: | Jan. 20
|
| Settlement date: | Feb. 3
|
| Bookrunners: | BNP Paribas, Deutsche Bank
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB-
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
