Brazil's Grupo Virgolino de Oliveira talks $300 million maximum 10-year notes at 12 1/8% area

By Christine Van Dusen

Atlanta, Feb. 1 - Brazil's Grupo Virgolino de Oliveira SA set price talk at the 12 1/8% area for its planned issue of up to $300 million 10-year notes (expected ratings: B3/B/B), a market source said.

BTG Pactual, Credit Suisse and Itau BBA are the bookrunners for the Rule 144A and Regulation S notes, which are non-callable for five years.

The notes also include a change-of-control put at 101%.

Proceeds will be used for debt refinancing, capital expenditures and general corporate purposes.

Grupo Virgolino is a sugar and ethanol producer based in Sao Paulo.

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