By Mary-Katherine Stinson
Lexington, Ky., April 6 – Federative Republic of Brazil sold $2.25 billion 6% global bonds due Oct. 20, 2033 (Ba2/BB-/BB-), according to an FWP filed with the Securities and Exchange Commission.
The SEC registered bonds priced at 98.849 plus accrued interest from April 13, if any, to yield 6.15%, or Treasuries plus 285.4 basis points.
The bonds feature a make-whole call at Treasuries plus 45 bps any time prior to maturity at Brazil’s option.
Proceeds will be used to repay outstanding debt.
The global bonds will be listed on the Luxembourg Stock Exchange for trading on the Euro MTF market.
| Issuer: | Brazil
|
| Amount: | $2.25 billion
|
| Issue: | Global bonds
|
| Maturity: | Oct. 20, 2033
|
| Bookrunners: | BNP Paribas Securities Corp., BofA Securities, Inc. and Morgan Stanley & Co. LLC
|
| Counsel to issuer: | Anelize Lenzi Ruas de Almeida, attorney general of the National Treasury and Arnold & Porter Kaye Scholer LLP
|
| Counsel to bookrunners: | Sullivan & Cromwell LLP
|
| Coupon: | 6%
|
| Price: | 98.849
|
| Yield: | 6.15%
|
| Spread: | Treasuries plus 285.4 bps
|
| Call features: | Make-whole call at Treasuries plus 45 bps any time
|
| Pricing date: | April 5
|
| Settlement date: | April 13
|
| Ratings: | Moody’s: Ba2
|
| S&P: BB-
|
| Fitch: BB-
|
| Distribution: | SEC registered
|
| Cusip: | 105756CF5
|
|
|
© 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.
