Brazil's GP Investments talks $150 million perpetual notes at 10% area

By Reshmi Basu

New York, Jan. 17 - Brazilian private equity firm GP Investments, Ltd. set price talk for its $150 million offering of perpetual notes (/B+/B) at the 10% area, according to a market source.

The notes will come with five years of call protection.

Additionally, the issue will be secured by a first-priority pledge representing 100% of GP Private Equity issued and outstanding shares.

The Sao Paulo, Brazil-based issuer pledges to fund an 18-month interest reserve account.

Credit Suisse has the books for the Rule 144A and Regulation S offering.

Pricing is expected to take place this week.

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