By Aleesia Forni
Virginia Beach, June 11 – Votorantim Industrial SA priced $400 million of 4¾% 10-year senior notes (Baa3/BBB/BBB) on Wednesday at Treasuries plus 225 basis points, or 98.903 to yield 4.89%, according to a market source.
The joint bookrunners were BB Securities, Bradesco BBI, Citigroup Global Markets Inc., Mitsubishi UFJ Securities, Morgan Stanley & Co. LLC and Banco Votorantim.
The notes were sold via Rule 144A and Regulation S and were issued through the company’s subsidiary, Companhia Brasileira de Aluminio.
Proceeds will be used to fund a tender offer and for general corporate purposes.
Votorantim Industrial is a subsidiary of Sao Paulo-based mining, metals and paper group Votorantim Participacoes.
| Issuer: | Companhia Brasileira de Aluminio
|
| Amount: | $400 million
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| Description: | Senior notes
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| Maturity: | June 17, 2024
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| Bookrunners: | BB Securities, Bradesco BBI, Citigroup Global Markets Inc., Mitsubishi UFJ Securities, Morgan Stanley & Co. LLC, Banco Votorantim
|
| Coupon: | 4¾%
|
| Price: | 98.903
|
| Yield: | 4.89%
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| Spread: | Treasuries plus 225 bps
|
| Trade date: | June 11
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| Settlement date: | June 17
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor's: BBB
|
| Fitch: BBB
|
| Price talk: | Treasuries plus 230 bps area
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