New York, Sept. 13 - União de Bancos Brasileiros SA (Unibanco) priced $100 million of seven-year floating-rate notes at Libor plus 45 basis points.
The deal, issued through UBB Diversified Payment Rights Finance Co., was brought to market by Barclays Capital Inc. and Nomura Securities International Inc.
Backing principal and interest payments is an insurance policy from MBIA Insurance Corp.
Proceeds from the bond sale will be used to fund Unibanco's clients in Brazil and elsewhere.
Unibanco said the deal is the sixth through UBB Diversified Payment Rights Finance Co. bringing its total issuance in the international capital markets to $1.1 billion.
| Issuer: | UBB Diversified Payment Rights Finance Co. (União de Bancos Brasileiros SA (Unibanco))
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| Amount: | $100 million
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| Maturity: | July 15, 2011 (Amortizes starting Oct. 15, 2007)
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| Coupon: | Libor plus 45 basis points
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| Credit enhancement: | Principal and interest guaranteed by policy from MBIA Insurance Corp.
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| Lead managers: | Barclays Capital Inc., Nomura Securities International Inc.
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