Brazil's Telemar Norte Leste talks $750 million 10-year bonds offering at 9¾% to 10%

By Aaron Hochman-Zimmerman

New York, April 14 - Telemar Norte Leste SA announced talk of 9¾% to 10% for its $750 million 10-year senior unsecured notes (Baa3//BBB-), according to a market source.

Citigroup, Banco Itau, Banco Santander, BB Securities and Bradesco BBI will act as bookrunners for the Rule 144A and Regulation S deal, with Citi on the left.

A roadshow started April 13 and runs through April 16 in Boston, New York, London, the U.S. west coast and the Philadelphia area.

Proceeds will be used to refinance outstanding debt and for general corporate purposes.

Telemar is a Rio de Janeiro-based telecommunications firm.

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