New Issue: Brazil's Itau Unibanco sells $250 million 5¾% notes due 2021 at 270 bps over Treasuries

By Christine Van Dusen

Atlanta, Jan. 24 - Brazil's Itau Unibanco Holding SA (Cayman Islands Branch) priced a $250 million add-on to its 5¾% notes due Jan. 22, 2021 (Baa2//BBB-) at 97.353 to yield 6.108%, or Treasuries plus 270 basis points, a market source said.

Deutsche Bank, Itau and Morgan Stanley were the bookrunners for the Rule 144A and Regulation S deal.

The original issue totaled $1 billion and priced Sept. 16 at 99.886 to yield 5.766%, or Treasuries plus 300 bps.

Itau Unibanco is a lender based in Sao Paulo.

Issuer:	Itau Unibanco Holding SA (Cayman Islands Branch)
Amount:	$250 million add-on
Maturity:	Jan. 22, 2021
Description:	Subordinated tier 2 notes
Bookrunners:	Deutsche Bank, Itau, Morgan Stanley
Coupon:	5¾%
Price:	97.353
Yield:	6.108%
Spread:	Treasuries plus 270 bps
Trade date:	Jan. 24
Settlement date:	Jan. 31
Ratings:	Moody's: Baa2
	Fitch: BBB-
Distribution:	Rule 144A and Regulation S
Original issue:	$1 billion priced Sept. 16, 2010 at 99.886 to yield 5.766%, or Treasuries plus 300 bps

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.