By Reshmi Basu
New York, Sept. 19 - The Republic of Brazil sold R$3.4 billion of global bonds due January 2016 at 98.636 with a 12½% coupon to yield 12¾%, according to market sources.
This is Brazil's first local currency-denominated sovereign issue. The bonds are denominated in Brazilian reais, but payments will be paid in dollars.
The issue came directly in line with price talk of 12¾%, which was announced Monday morning.
JP Morgan and Goldman Sachs were joint bookrunners. Banco Itau acted a co-manager.
Moody's Investors Service assigned a local currency rating of Ba3. Standard & Poor's has assigned a BB rating, while Fitch Ratings has given a BB- rating.
| Issuer: | Republic of Brazil
|
| Amount: | R$3.4 billion
|
| Issue: | Senior global notes
|
| Maturity: | Jan. 6, 2016 (10.3-year bullet notes)
|
| Coupon: | 12½%
|
| Issue price: | 98.636
|
| Yield: | 12¾%
|
| Pricing date: | Sept. 19
|
| Settlement date: | Sept. 26
|
| Joint bookrunners: | JP Morgan, Goldman Sachs
|
| Co-manager: | Banco Itau
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB
|
| Fitch: BB-
|
| Price talk: | 12¾%
|
|
|
© 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.
