Published on 7/17/2014 in the Prospect News Emerging Markets Daily.
New Issue: Brazil’s Caixa Economica Federal prices $500 million 7¼% notes due 2024 at par
By Christine Van Dusen
Atlanta, July 17 – Brazil’s Caixa Economica Federal sold $500 million of 7¼% notes due July 23, 2024 (expected ratings: Ba3/BB+/) at par to yield 7¼%, a market source said.
The notes were talked at a yield in the low- to mid-7% area.
BB Securities, BofA Merrill Lynch, Bradesco BBI, BTG Pactual, Deutsche Bank Securities and HSBC were the bookrunners for the Rule 144A and Regulation S deal.
Caixa Economica Federal is a Brasilia-based lender.
| Issuer: | Caixa Economica Federal
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| Amount: | $500 million
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| Maturity: | July 23, 2024
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| Description: | Notes
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| Bookrunners: | BB Securities, BofA Merrill Lynch, Bradesco BBI, BTG Pactual, Deutsche Bank Securities, HSBC
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| Coupon: | 7¼%
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| Price: | Par
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| Yield: | 7¼%
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| Trade date: | July 16
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| Settlement date: | July 23
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| Expected ratings: | Moody’s: Baa2
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| Standard & Poor’s: BBB-
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| Fitch: BBB
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| Distribution: | Rule 144A/Regulation S
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| Price talk: | Low- to mid-7% area
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