By Reshmi Basu and Paul A. Harris
New York, Dec. 3 - The Republic of Brazil reopened its bonds due 2014 to raise $500 million, according to an informed source.
The bonds priced Friday at 114.75 with a 10½% coupon to yield 8.244%, or 398 basis points over Treasuries.
Morgan Stanley and JP Morgan managed the add-on offering.
On July 7, Brazil sold $750 million of 10½% bonds at 98.192 to yield 10.8% via Deutsche Bank and Morgan Stanley.
| Issuer: | Republic of Brazil
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| Amount: | $500 million
|
| Issue: | Reopening of 10½% bonds due 2014
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| Maturity: | July 14, 2014
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| Coupon: | 10½%
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| Issue price: | 114.75
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| Yield: | 8.244%
|
| Spread: | 398 basis points over Treasuries
|
| Pricing date: | Dec. 3
|
| Settlement date: | Dec. 8
|
| Managers: | Morgan Stanley, JP Morgan
|
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