By Reshmi Basu
New York, Jan. 23 - The Federative Republic of Brazil sold an additional $500 million of its 7 1/8% global bonds due 2037 (Ba2/BB/BB), according to market sources.
The issued priced at 106.338 to yield 6.635%, or a spread of 173 basis points more than Treasuries.
The deal came slightly wider than price guidance of 172 bps.
Bear Stearns and Merrill Lynch were bookrunners for the offering of Securities and Exchange Commission-registered bonds.
The additional bonds bring the total size of the deal to $2.5 billion.
| Issuer: | Federative Republic of Brazil
|
| Issue: | Reopening of 2037 global bonds
|
| Amount: | $500 million
|
| Maturity: | Jan. 20, 2037
|
| Coupon: | 7 1/8%
|
| Issue price: | 106.338
|
| Yield: | 6.635%
|
| Spread: | 173 basis points more than Treasuries
|
| Pricing date: | Jan. 23
|
| Settlement date: | Jan. 30
|
| Joint bookrunners: | Bear Stearns, Merrill Lynch
|
| Co-managers: | Banco Itau Europa SA, BB Securities Ltd.
|
| Distribution: | Securities and Exchange Commission-registered
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: BB
|
| Fitch: BB
|
| Price guidance: | 172 bps more than Treasuries
|
| Total issue size: | $2.5 billion
|
© 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.
