By Aaron Hochman-Zimmerman
New York, July 23 - Centrais Eletricas Brasileiras SA priced $1 billion of 10-year 6 7/8% senior unsecured fixed-rate notes (/BBB-/BBB-) at 99.112 to yield 7%, according to a market source.
The notes came at a spread of Treasuries plus 336.2 basis points.
Credit Suisse acted as bookrunner for the Rule 144A and Regulation S deal.
Pricing followed a roadshow held on July 21 in London and on the U.S. west coast as well as New York and Boston on July 22.
Proceeds will be used for general corporate purposes.
Eletrobras is a Rio de Janeiro-based, government-owned power firm.
| Issuer: | Centrais Eletricas Brasileiras SA
|
| Issue: | Senior unsecured fixed-rate notes
|
| Amount: | $1 billion
|
| Maturity: | July 30, 2019
|
| Coupon: | 6 7/8%
|
| Price: | 99.112
|
| Yield: | 7%
|
| Bookrunner: | Credit Suisse
|
| Distribution: | Rule 144A, Regulation S
|
| Pricing date: | July 23
|
| Settlement date: | July 30
|
| Ratings: | Standard & Poor's: BBB-
|
| Fitch: BBB-
|
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