By Christine Van Dusen
Atlanta, Jan. 26 - Brazil's Banco do Estado do Rio Grande do Sul (Banrisul) priced a $500 million issue of 7 3/8% notes due Feb. 2, 2022 (Ba1//BB-) at 99.131 to yield 7½%, a market source said.
The notes were talked in the 7 5/8% area.
Credit Suisse and Deutsche Bank were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes.
Banrisul is a banking company based in Porto Alegre, Brazil.
Issuer: | Banco do Estado do Rio Grande do Sul (Banrisul)
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Amount: | $500 million
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Maturity: | Feb. 2, 2022
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Description: | Notes
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Bookrunners: | Credit Suisse, Deutsche Bank
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Coupon: | 7 3/8%
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Price: | 99.131
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Yield: | 7½%
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Trade date: | Jan. 26
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Settlement date: | Feb. 2
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Expected ratings: | Moody's: Ba1
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| Fitch: BB-
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Distribution: | Rule 144A and Regulation S
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Price talk: | 7 5/8% area
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