By Christine Van Dusen and Aleesia Forni
Atlanta, June 8 – Brazil’s Embraer SA – through Embraer Netherlands Finance BV – priced an upsized $1 billion issue of 5.05% notes due in 2025 (Baa3/BBB/) at 99.682 to yield 5.091%, or Treasuries plus 270 basis points, a market source said.
The notes, which were originally expected to total $500 million to $750 million, were talked at a spread in the 300 bps area before guidance was narrowed to the 275 bps area.
Citigroup and Morgan Stanley were the bookrunners for the Securities and Exchange Commission-registered deal.
The proceeds will be used for general corporate purposes.
Embraer is an aircraft manufacturer based in Sao Jose dos Campos, Brazil.
| Issuer: | Embraer Netherlands Finance BV
|
| Guarantor: | Embraer SA
|
| Amount: | $1 billion
|
| Maturity: | 2025
|
| Description: | Senior notes
|
| Bookrunners: | Citigroup, Morgan Stanley
|
| Coupon: | 5.05%
|
| Price: | 99.682
|
| Yield: | 5.091%
|
| Spread: | Treasuries plus 270 bps
|
| Trade date: | June 8
|
| Ratings: | Moody’s: Baa3
|
| Standard & Poor’s: BBB
|
| Distribution: | SEC registered
|
| Price talk: | Treasuries plus 275 bps area, tightened from 300 bps area
|
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