By Paul A. Harris
St. Louis, July 31 - Companhia Brasileira de Petroleo Ipiranga priced an upsized $135 million of 7 7/8% senior notes due Aug. 1, 2008 (B2) at 99.773 on July 25 to yield 9.025%, according to an informed source.
The deal was increased from $125 million. Price talk was 8¼% area.
Price talk was 8¼% area. The trade date was July 25, 2003.
Bear Stearns & Co. was the bookrunner for the emerging markets offering. BB Securities and Itau Bank Ltd. were co-managers.
Proceeds will be used to repay debt.
The issuer is a Brazilian refiner and distributor of petroleum products.
| Issuer: | Companhia Brasileira de Petroleo Ipiranga
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| Amount: | $135 million (increased from $125 million)
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| Maturity: | Aug. 1, 2008
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| Security description: | Senior notes
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| Bookrunner: | Bear Stearns
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| Co-managers: | BB Securities, Itau Bank Ltd.
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| Coupon: | 7 7/8% (steps up if bonds are not put)
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| Price: | 99.773
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| Yield: | 9.025%
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| Put: | Three years
|
| Settlement date: | Aug. 1, 2003
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| Trade date: | July 25, 2003
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| Rating: | Moody's: B2
|
| Price talk: | 8¼% area
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