By Christine Van Dusen
Atlanta, April 7 - Brazil's Banco Nacional de Desenvolvimento Economico e Social (BNDES) priced a two-part issue of $1.5 billion notes due in 2019 and 2023, a syndicate source said.
The $1 billion 4% five-year notes priced at 99.758 to yield Treasuries plus 237.5 basis points.
The notes were talked at a spread of Treasuries plus 240 bps to 250 bps.
The $500 million tap of the company's $1.25 billion 5¾% notes due Sept. 26, 2023 priced at 103.143 to yield Treasuries plus 262.5 bps.
The notes were talked at a spread of 265 bps to 275 bps.
BB Securities, Citigroup, HSBC and Mitsubishi UFJ Securities are the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes.
BNDES is an economic and social development bank based in Rio de Janeiro.
| Issuer: | Banco Nacional de Desenvolvimento Economico e Social (BNDES)
|
| Description: | Notes
|
| Bookrunners: | BB Securities, Citigroup, HSBC, Mitsubishi UFJ Securities
|
| Trade date: | April 7
|
| Settlement date: | April 14
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
|
| Amount: | $1 billion
|
| Maturity: | April 14, 2019
|
| Coupon: | 4%
|
| Price: | 99.758
|
| Spread: | Treasuries plus 237.5 bps
|
| Price talk: | Treasuries plus 240 bps to 250 bps
|
|
|
| Notes due 2023
|
| Amount: | $500 million
|
| Maturity: | Sept. 26, 2023
|
| Coupon: | 5¾%
|
| Price: | 103.143
|
| Spread: | Treasuries plus 262.5 bps
|
| Price talk: | Treasuries plus 265 bps to 275 bps
|
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