Brazil's CNO to start roadshow Monday for $150 million perpetual notes

By Paul A. Harris

St. Louis, Sept. 6 - Brazilian engineering and construction firm Construtora Norberto Odebrecht SA (CNO) will begin a roadshow on Monday in Singapore for a $150 million offering of perpetual notes (BB-), according to a market source.

The notes, which will be issued by subsidiary Odebrecht Overseas Ltd., will subsequently be presented to investors on Sept. 13 in Hong Kong and on Sept. 14 in Zurich.

Credit Suisse First Boston has the books for the Regulation S offering. Deutsche Bank Securities will be a joint lead manager.

The notes, which will be guaranteed by CNO, come with five years of call protection, after which they will be callable quarterly at par. The notes will contain no dividend step-up.

CNO has headquarters in Sao Paulo, Brazil.

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