By Aleesia Forni
Virginia Beach, June 10 – Brazil’s Odebrecht Oil & Gas Finance Ltd. priced a $400 million issue of perpetual senior notes (/BBB-/) at par to yield 7% on Tuesday, a market source said.
The notes sold in line with talk.
Morgan Stanley, BB Securities and Bradesco BBI were the bookrunners for the Rule 144A and Regulation S deal.
HSBC, Itau BBA and Santander were the global coordinators.
Proceeds will be used for general corporate purposes.
Odebrecht Oil & Gas will guarantee the notes.
Odebrecht is an engineering, construction, chemical and petrochemical conglomerate based in Salvador da Bahia, Brazil.
| Issuer: | Odebrecht Oil & Gas Finance Ltd.
|
| Guarantor: | Odebrecht Oil & Gas
|
| Amount: | $400 million
|
| Description: | Senior notes
|
| Maturity: | Perpetual
|
| Bookrunners: | Morgan Stanley, BB Securities, Bradesco BBI
|
| Global coordinators: | HSBC, Itau BBA, Santander
|
| Co-managers: | Credit Agricole, Mitsubishi UFJ Securities, Natixis, Societe Generale
|
| Coupon: | 7%
|
| Price: | Par
|
| Yield: | 7%
|
| Trade date: | June 10
|
| Rating: | Standard & Poor's: BBB-
|
| Price talk: | 7% area
|
| Distribution: | Rule 144A, Regulation S
|
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