By Christine Van Dusen
Atlanta, Sept. 15 - Brazil's Banco Cruzeiro do Sul SA priced $400 million 8 7/8% notes due 2020 (Ba3) at 99.187 to yield 9%, a market source said.
Barclays, BCP Securities and UBS were the bookrunners for the Rule 144A and Regulation S offering, which was talked at the 9¼% area.
Proceeds will be used for general corporate purposes and to increase the company's capital base for credit portfolio growth.
Banco Cruzeiro is a Sao Paulo-based lender.
| Issuer: | Banco Cruzeiro do Sul SA
|
| Amount: | $400 million
|
| Maturity: | 2020
|
| Description: | Tier 1 bonds
|
| Bookrunners: | Barclays, BCP Securities, UBS
|
| Coupon: | 8 7/8%
|
| Price: | 99.187
|
| Yield: | 9%
|
| Call features: | Non-callable
|
| Trade date: | Sept. 15
|
| Settlement date: | Sept. 22
|
| Rating: | Moody's: Ba3
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 9¼% area
|
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