New Issue: Brasil Foods upsizes to $750 million, sells 7¼% 10-year notes at 99.127 to yield 7 3/8%

By Paul A. Harris

St. Louis, Jan. 21 - Brasil Foods SA priced an upsized $750 million issue of 7¼% 10-year notes (Ba1/BB+/) at 99.127 to yield 7 3/8% on Thursday, according to a market source.

The yield priced 12.5 bps through the 7 5/8% area price talk.

Itau, JPMorgan and Santander ran the books for the issue, which was upsized from $500 million.

The Sao Paulo-based food company will use the proceeds to refinance debt and for general corporate purposes.

Issuer:	Brasil Foods SA
Amount:	$750 million, increased from $500 million
Maturity:	Jan. 28, 2020
Securities:	Notes
Bookrunners:	Itau, JPMorgan, Santander
Coupon:	7¼%
Price:	99.127
Yield:	7 3/8%
Spread:	377 bps
Trade date:	Jan. 21
Settlement date:	Jan. 28
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+
Distribution:	Rule 144A/Regulation S
Price talk:	7 5/8% area

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