Published on 1/21/2011 in the Prospect News Emerging Markets Daily and Prospect News High Yield Daily.
New Issue: Brazil's Banco Daycoval prices $300 million 6¼% notes due 2016 to yield 6 3/8%
By Christine Van Dusen
Atlanta, Jan. 21 - Brazil's Banco Daycoval priced $300 million 6¼% notes due Jan. 28, 2016 (/BB/BB) at 99.472 to yield 6 3/8%, or Treasuries plus 433.7 basis points, a market source said.
Goldman Sachs, Standard Chartered and HSBC were the bookrunners for the Rule 144A and Regulation S deal, which was talked at a yield in the 6½% area.
Banco Daycoval is a Sao Paulo-based lender.
| Issuer: | Banco Daycoval SA
|
| Amount: | $300 million
|
| Maturity: | Jan. 28, 2016
|
| Description: | Senior notes
|
| Bookrunners: | Goldman Sachs, Standard Chartered, HSBC
|
| Coupon: | 6¼%
|
| Price: | 99.472
|
| Yield: | 6 3/8%
|
| Spread: | Treasuries plus 433.7 bps
|
| Trade date: | Jan. 21
|
| Settlement date: | Jan. 28
|
| Ratings: | Standard & Poor's: BB
|
| Fitch: BB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6½% area
|
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