By Reshmi Basu
New York, April 30 - Banco Mercantil do Brasil SA sold a $100 million offering of five-year amortizing notes (Ba2) at par to yield 7¾%, according to a market source.
The notes will amortize in the third, fourth and fifth years.
The deal also priced in line with yield guidance of 7¾%.
Dresdner Kleinwort was the bookrunner for the Regulation S transaction, which was issued under the bank's global medium-term note program.
Banco Mercantil is a midsize bank that focuses on retail banking and lending to small- and medium-sized businesses located in the southeast region of Brazil.
| Issuer: | Banco Mercantil do Brasil SA
|
| Amount: | $100 million
|
| Maturity: | May 8, 2012
|
| Issue: | Amortizing notes
|
| Coupon: | 7¾%
|
| Issue price: | Par
|
| Yield: | 7¾%
|
| Lead manager: | Dresdner Kleinwort
|
| Pricing date: | April 30
|
| Settlement date: | May 8
|
| Distribution: | Regulation S
|
| Rating: | Moody's: Ba2
|
| Price guidance: | 7¾%
|
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