By Christine Van Dusen
Atlanta, April 16 - Brazil's Votorantim Cimentos SA sold €650 million of 3¼% notes due 2021 (expected ratings: Baa3/BBB/BBB) at 98.672 to yield 3.467%, or mid-swaps plus 220 basis points, a market source said.
The notes priced tighter than talk, which was set in the 240 bps area.
Citigroup, HSBC, Santander GBM, BB Securities, Banco Votorantim and Bradesco BBI were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used for general corporate purposes.
Votorantim Cimentos is a cement company based in Sao Paulo.
| Issuer: | Votorantim Cimentos SA
|
| Amount: | €650 million
|
| Maturity: | April 25, 2021
|
| Description: | Notes
|
| Bookrunners: | Citigroup, HSBC, Santander GBM, BB Securities, Banco Votorantim, Bradesco BBI
|
| Coupon: | 3¼%
|
| Price: | 98.672
|
| Yield: | 3.467%
|
| Spread: | Mid-swaps plus 220 bps
|
| Trade date: | April 16
|
| Settlement date: | April 25
|
| Expected ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | Mid-swaps plus 240 bps are
|
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