Published on 6/20/2014 in the Prospect News Emerging Markets Daily.
New Issue: Brazil’s Odebrecht prices $500 million 5¼% notes due 2029 at par
By Christine Van Dusen
Atlanta, June 20 – Brazil’s Odebrecht Finance Ltd. priced $500 million 15-year notes at par to yield 5¼% on Thursday, a market source said.
Santander, Citigroup, Deutsche Bank, Itau Unibanco, JPMorgan and Mitsubishi UFJ Securities were the bookrunners for the deal.
The new notes were part of a tender offer for Odebrecht’s 7% senior notes due 2020, 5 1/8% notes due 2022, 6% notes due 2023 and 4 3/8% notes due 2025 that began Thursday.
The issuer is an affiliate of Construtora Norberto Odebrecht, an engineering and construction company based in Sao Paulo.
| Issuer: | Odebrecht Finance Ltd.
|
| Amount: | $500 million
|
| Maturity: | June 27, 2029
|
| Description: | Notes
|
| Bookrunners: | Santander, Citigroup, Deutsche Bank, Itau Unibanco, JPMorgan, Mitsubishi UFJ Securities
|
| Coupon: | 5¼%
|
| Price: | Par
|
| Yield: | 5¼%
|
| Trade date: | June 19
|
| Settlement date: | June 27
|
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