By Christine Van Dusen
Atlanta, July 31 - Brazil's Itau Unibanco Holding SA priced $1,375,000 of notes due Aug. 6, 2022 (Baa2//BBB) at par to yield 5½%, or Treasuries plus 399.6 basis points, a market source said.
The notes priced in line with talk, set at the mid- to high-5% area.
Itau originally priced $1.25 billion of the notes on Monday and then added a further $125 million as a result of the exercise of the "extended sale option" in the Asian market.
Itau, JPMorgan and Standard Chartered were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes.
Itau Unibanco is a lender based in Sao Paulo.
| Issuer: | Itau Unibanco Holding SA
|
| Amount: | $1,375,000
|
| Maturity: | Aug. 6, 2022
|
| Description: | Tier 2 notes
|
| Bookrunners: | Itau, JPMorgan, Standard Chartered
|
| Coupon: | 5½%
|
| Price: | Par
|
| Yield: | 5½%
|
| Spread: | Treasuries plus 399.6 bps
|
| Trade date: | July 30
|
| Settlement date: | Aug. 6
|
| Ratings: Moody's: Baa2
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | Mid- to high-5% area
|
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