Brazil's Odebrecht Drilling sets roadshow for dollar benchmark notes

By Christine Van Dusen

Atlanta, May 24 - Brazil's Odebrecht Drilling Norbe VIII/IX Ltd. has set a roadshow for May 27 to June 5 for a dollar-denominated offering of benchmark-sized notes, a market source said.

HSBC, Itau BBA and Morgan Stanley are the global coordinators. BB Securities, BNP Paribas and Santander are the bookrunners for the Rule 144A and Regulation S deal.

The proceeds will be used for relief from existing project finance obligations.

The roadshow will begin May 27 in Santiago, Chile, and then travel to New York, Hong Kong, Singapore, Lima, Boston, London, Houston, Los Angeles and Switzerland before concluding on June 5.

The issuer is a subsidiary of Odebrecht Oleo e Gas SA, an offshore drilling company based in Rio de Janeiro.

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