Chicago, April 8 – Banco do Brasil SA (Grand Cayman branch) issued $750 million of 6% sustainability bonds due 2031 (Ba2//BB), according to an offering document.
The bonds priced at 98.323 to yield 6.3%.
The notes may be redeemed early at any point with a Treasuries plus 35 basis points make-whole premium.
UBS Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Santander US Capital Markets LLC and SMBC Nikko Securities America, Inc. were dealers for the Rule 144A and Regulation S deal.
Proceeds are being allocated to environmental and social projects.
Banco do Brasil SA is based in Brasilia, Brazil.
| Issuer: | Banco do Brasil SA (Grand Cayman branch)
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| Amount: | $750 million
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| Issue: | Sustainability senior bonds
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| Maturity: | March 18, 2031
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| Bookrunners: | UBS Securities LLC, Citigroup Global Markets Inc., J.P. Morgan Securities LLC, Santander US Capital Markets LLC and SMBC Nikko Securities America, Inc.
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| ESG adviser: | UBS Investment Bank
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| Trustee: | Deutsche Trustee Co. Ltd.
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| Coupon: | 6%
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| Price: | 98.323
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| Yield: | 6.3%
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| Call features: | Make-whole call at Treasuries plus 35 bps
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| Change of control: | No
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| Trade date: | March 11
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| Settlement date: | March 18
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| Ratings: | Moody’s: Ba2
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| Fitch: BB
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| Distribution: | Rule 144A and Regulation S
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| ISIN: | US059578AK04, USP2000TAE57
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