By Reshmi Basu
New York, Oct. 20 - Empresa Brasileira de Aeronáutica SA (Embraer), via its subsidiary Embraer Overseas Ltd., sold a $400 million offering of guaranteed notes due 2017 (Baa3/BBB-) at 99.289 to yield 6.466%, according to a market source.
Proceeds will be used to repay existing debt and for general corporate purposes.
JP Morgan and Citigroup were bookrunners for the Rule 144A and Regulation S sale. Barclays Capital was co-manager.
Sao Paulo, Brazil-based aircraft manufacturer Embraer will guarantee the issue.
| Issuer: | Embraer Overseas Ltd.
|
| Guarantor: | Embraer-Empresa Brasileira de Aeronáutica SA
|
| Amount: | $400 million
|
| Issue: | Guaranteed notes
|
| Maturity: | Jan. 24, 2017
|
| Coupon: | 6 3/8%
|
| Issue price: | 99.289%
|
| Yield: | 6.466%
|
| Spread: | 68 basis points plus Treasuries
|
| Make-whole call: | At any time at a discount of Treasuries plus 25 basis points
|
| Pricing date: | Oct. 20
|
| Settlement date: | Oct. 25
|
| Bookrunners: | JP Morgan, Citigroup
|
| Co-manager: | Barclays Capital
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Distribution: | Rule 144A and Regulation S
|
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