By Reshmi Basu and Paul A. Harris
St. Louis, Aug. 2 - Brazil's Banco Industrial e Comercial (BicBanco) priced a downsized $30 million issue of three-year notes (B1) at 99.675 with an 8 3/8% coupon to yield 8½%, a market source told Prospect News on Tuesday.
The yield came wide of the 8% to 8¼% price talk.
Dresdner Kleinwort Wasserstein and EBS (Swiss) were bookrunners for the Regulation S notes that were priced off of BicBanco's euro medium-term note program.
The issue was downsized from $50 million.
BicBanco has headquarters in Sao Paulo, Brazil.
| Issuer: | Banco Industrial e Comercial (BicBanco)
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| Amount: | $30 million (decreased from $50 million)
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| Maturity: | Aug. 4, 2008
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| Security description: | Regulation S euro medium-term notes
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| Bookrunners: | Dresdner Kleinwort Wasserstein, EBS (Swiss)
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| Coupon: | 8 3/8%
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| Price: | 99.675
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| Yield: | 8½%
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| Settlement date: | Aug. 5
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| Rating: | Moody's: B1
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| Price talk: | 8% to 8¼%
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