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Published on 1/6/2011 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.

New Issue: Brazil's Banco Bradesco sells $500 million add-on to 5.9% notes due 2021 to yield 6.042%

By Christine Van Dusen

Atlanta, Jan. 6 - Brazil's Banco Bradesco SA priced a $500 million add-on to its 5.9% notes due Jan. 16, 2021 at 98.945 to yield 6.042%, or Treasuries plus 262.5 basis points, a market source said.

Bank of America Merrill Lynch, Bradesco BBI, HSBC and JPMorgan were the bookrunners for the Rule 144A and Regulation S deal, which was talked at a spread of Treasuries plus 262.5 bps to 275 bps.

The original issue totaled $1 billion and priced in August at 99.622 to yield 5.95%.

Banco Bradesco is an Osasco, Brazil-based lender.

Issuer:Banco Bradesco SA
Amount:$500 million
Maturity:Jan. 16, 2021
Description:Add-on to notes
Bookrunners:Bank of America Merrill Lynch, Bradesco BBI, HSBC, JPMorgan
Coupon:5.9%
Price:98.945
Yield:6.042%
Spread:Treasuries plus 262.5 bps
Trade date:Jan. 6
Distribution:Rule 144A and Regulation S
Price talk:Treasuries plus 262.5 bps to 275 bps
Total amount:$1.5 billion, including $1 billion priced in August at 99.622 to yield 5.95%

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