New Issue: Brazil's Itau Unibanco sells $1 billion 6.2% 10-year notes at 237.5 bps over Treasuries

By Christine Van Dusen

Atlanta, April 8 - Brazil's Itau Unibanco priced $1 billion 6.2% 10-year notes (Baa2/BBB-/) at 99.552 to yield 6.261%, or 237.5 basis points over Treasuries, according to a market source.

Banco Itau Europa, Goldman Sachs and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal, which was initially talked at the Treasuries plus 250 bps area.

Proceeds will be used for general corporate purposes.

Itau Unibanco is a banking company based in Sao Paulo.

Issuer:	Itau Unibanco
Amount:	$1 billion
Maturity:	April 15, 2020
Security description:	Global subordinated notes
Bookrunners:	Banco Itau Europa, Goldman Sachs, Morgan Stanley
Coupon:	6.2%
Price:	99.552
Yield:	6.261%
Spread:	237.5 bps over Treasuries
Trade date:	April 8
Settlement date:	April 15
Ratings:	Moody's: Baa2
	Standard & Poor's: BBB-
Distribution:	Rule 144A, Regulation S
Price talk:	250 bps over Treasuries area

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