By Paul A. Harris
New York, July 22 - Unibanco-Uniao de Banco SA priced an upsized offering of $500 million perpetual non-step tier I notes (Ba2) at par to yield 8.7%, according to a market source.
The notes will be callable at par on July 29, 2010.
The deal doubled in size from its original offering.
Merrill Lynch & Co. and UBS Investment Bank were the bookrunners for the Rule 144A/Regulation S transaction.
The issuer, based in Sao Paulo, Brazil, is a private banking company.
| Issue: | Unibanco-Uniao de Banco SA
|
| Amount: | $500 million
|
| Issue: | Perpetual non-step tier I notes
|
| Maturity: | Perpetual
|
| Coupon: | 8.70%
|
| Issue price: | Par
|
| Yield: | 8.70%
|
| Call option: | Callable on July 29, 2010 at par
|
| Pricing date: | July 22
|
| Settlement date: | July 29
|
| Bookrunners: | Merrill Lynch & Co., UBS Investment Bank
|
| Rating: | Moody's: Ba2
|
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