Published on 6/11/2015 in the Prospect News Emerging Markets Daily.
New Issue: Brazil’s Oi prices €600 million 5 5/8% notes due 2021 to yield 5¾%
By Christine Van Dusen
Atlanta, June 11 – Brazil’s Oi SA sold €600 million 5 5/8% notes due 2021 (Ba1/BB+/BB+) at a yield of 5¾% on Thursday, a market source said.
BB Securities, BofA Merrill Lynch, HSBC, Santander GBM, Bradesco BBI, Citigroup, Deutsche Bank, BNP Paribas, BTG Pactual and Itau BBA were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used in connection with a concurrent tender offer and for repaying and prepaying debt.
Other details were not immediately available on Thursday.
Oi is a Rio de Janeiro-based telecommunications service provider.
| Issuer: | Oi SA
|
| Amount: | €600 million
|
| Maturity: | 2021
|
| Description: | Senior notes
|
| Bookrunners: | BB Securities, BofA Merrill Lynch, HSBC, Santander GBM, Bradesco BBI, Citigroup, Deutsche Bank, BNP Paribas, BTG Pactual, Itau BBA
|
| Coupon: | 5 5/8%
|
| Yield: | 5¾%
|
| Trade date: | June 11
|
| Ratings: | Moody’s: Ba1
|
| Standard & Poor’s: BB+
|
| Fitch: BB+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6% area
|
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