Published on 9/11/2014 in the Prospect News Emerging Markets Daily.
New Issue: Brazil’s Banco BTG Pactual prices $1.3 billion perpetual notes to yield 8¾%
By Christine Van Dusen
Atlanta, Sept. 11 – Brazil’s Banco BTG Pactual priced $1.3 billion perpetual notes (Ba3//B+) at par to yield 8¾% on Thursday, matching price talk, a market source said.
BB Securities, BofA Merrill Lynch, Bradesco, BTG Pactual, Citigroup and Santander were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to increase capital.
The lender is based in Sao Paulo.
| Issuer: | Banco BTG Pactual
|
| Amount: | $1.3 billion
|
| Maturity: | Perpetual
|
| Description: | Notes
|
| Bookrunners: | BB Securities, BofA Merrill Lynch, Bradesco, BTG Pactual, Citigroup, Santander
|
| Coupon: | 8¾%
|
| Price: | Par
|
| Yield: | 8¾%
|
| Trade date: | Sept. 11
|
| Settlement date: | Sept. 18
|
| Ratings: | Moody’s: Ba3
|
| Fitch: B+
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 8¾%
|
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