By Christine Van Dusen
Atlanta, March 10 - Brazil's Banco Daycoval SA priced $300 million 6½% five-year senior unsecured notes (/BB/BB) at 98.954 to yield 6¾%, or Treasuries plus 441.5 basis points, a market source said.
After wrapping up a roadshow on Monday in London and New York, the issue was upsized from $150 million, another source said.
Banco Itau, Morgan Stanley and Santander were the bookrunners for the Regulation S-only offering, which was talked at 7%.
Banco Daycoval is a Sao Paulo-based banking company.
| Issuer: | Banco Daycoval SA
|
| Amount: | $300 million
|
| Maturity: | March 16, 2015
|
| Description: | Senior unsecured notes
|
| Bookrunners: | Banco Itau, Morgan Stanley, Santander
|
| Coupon: | 6½%
|
| Price: | 98.954
|
| Yield: | 6¾%
|
| Spread: | Treasuries plus 441.5 bps
|
| Trade date: | March 10
|
| Settlement date: | March 16
|
| Ratings: | Standard & Poor's: BB
|
| Fitch: BB
|
| Distribution: | Regulation S only
|
| Price talk: | 7%
|
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