Brazil's Independencia talks $250 million seven-year notes at 10¼% area

By Aaron Hochman-Zimmerman

New York, May 7 - Independencia International Ltd. (B3/B) talked its planned $250 million of seven-year senior unsecured bonds in the 10¼% area, according to a market source.

The deal is expected to price on Thursday.

Banco Santander will act as the bookrunner for the Rule 144A and Regulation S deal.

Proceeds will be used to refinance existing debt.

Independencia is a Jordanesia, Brazil-based and Cayman incorporated beef producer.

Note: Banco Santander is sole bookrunner. Prospect News earlier reported incorrectly that ABN Amro was also asked to act as a bookrunner.

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