By Rebecca Melvin
New York, Jan. 18 – Federative Republic of Brazil priced a $1.5 billion tap of its 5 5/8% bonds (Ba2/BB/BB) due Feb. 21, 2047 on Thursday at 100.352 of par to yield 5.6%, according to a market source.
Pricing of the new notes came tight compared to initial talk at 5.8%. Total deal size is now $3 billion.
Citigroup, HSBC and Morgan Stanley were joint bookrunners for the new Securities and Exchange Commission-registered notes.
Brazil priced the initial $1.5 billion of the 5 5/8% notes due 2047 on July 28, 2016. Initial yield guidance at that time was 6%.
| Issuer: | Federative Republic of Brazil
|
| Amount: | $1.5 billion add-on
|
| Maturity: | Feb. 21, 2047
|
| Securities: | Global bonds
|
| Bookrunners: | Citigroup, HSBC and Morgan Stanley
|
| Coupon: | 5 5/8%
|
| Price: | 100.352
|
| Yield: | 5.6%
|
| Trade date: | Jan. 18
|
| Settlement date: | Jan. 23
|
| Ratings: | Moody's: Ba2
|
| S&P: BB
|
| Fitch: BB
|
| Distribution: | SEC registered
|
| Price talk: | Yield of 5.8%
|
| Total amount: | $3 billion, including $1.5 billion priced July 28, 2016
|
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