By Reshmi Basu
New York, Sept. 22 - The Republic of Brazil reopened its 8½% bonds due 2012 (B1/BB-/B+) with a further €250 million, according to a market source.
The retap priced at 101.875 to yield 8.17% or 439 basis points over comparable German bunds.
Dresdner Kleinwort Wasserstein and UBS AG were joint bookrunners for the Regulation S deal.
In early September, Brazil priced the original upsized €750 million eight-year notes at 98.88 to yield 8.7%.
Issuer: Republic of Brazil
| Amount: | €250 million
|
| Total amount outstanding: | €1 billion
|
| Issue: | Reopening of 8½% bonds due 2012
|
| Maturity: | Sept 24, 2012
|
| Coupon: | 8½%
|
| Price: | 101.875
|
| Yield: | 8.17%
|
| Spread: | Bunds + 439 basis points
|
| Pricing date: | Sept. 22
|
| Settlement date: | | Sept 30
|
| Joint bookrunners: | Dresdner Kleinwort Wasserstein, UBS AG
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB-
|
| Fitch: B+
|
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