By Paul A. Harris
St. Louis, Nov. 22 - Brazil's Centrais Eletricas Brasileiras SA (Eletrobras) priced a $300 million issue of 7¾% 10-year notes (BB-) at 99.146 on Monday night to yield 7 7/8%, according to an informed source.
The yield came right on top of price talk, the source said, adding that the order book was oversubscribed, containing more than $700 million of orders.
Dresdner Kleinwort Wasserstein was the bookrunner for the Rule 144A/Regulation S issue.
The issuer is a publicly traded government holding company for Brazil's electric companies and has headquarters in Rio de Janeiro.
Issuer: | Centrais Eletricas Brasileiras SA (Eletrobras)
|
Amount: | $300 million
|
Maturity: | Nov. 30, 2015
|
Security description: | Notes
|
Bookrunner: | Dresdner Kleinwort Wasserstein
|
Coupon: | 7¾%
|
Price: | 99.146
|
Yield: | 7 7/8%
|
Spread: | 341 basis points
|
Call protection: | Non-callable for life
|
Pricing date: | Nov. 21
|
Rating: | Standard & Poor's: BB-
|
Price talk: | 7 7/8% area
|
Distribution: | Rule 144A/Regulation S
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.