By Aaron Hochman-Zimmerman
New York, June 4 - Banco Nacional de Desenvolvimento Economico e Social priced $1 billion of 10-year global bonds at a spread of Treasuries plus 300 bps (Baa3/BBB-) on Wednesday, according to a market source.
The deal came at the tight end of talk for a spread of Treasuries plus 300 to 310 bps.
The debt priced at 99.666 with a coupon of 6½%.
HSBC and Goldman Sachs acted as bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes.
Banco Nacional de Desenvolvimento Economico e Social is a state-run development bank.
Issuer: Banco Nacional de Desenvolvimento Economico e Social
Issue: Global bonds
| Amount: | $1 billion
|
| Maturity: | June 10, 2019
|
| Coupon: | 6½%
|
| Price: | 99.666
|
| Yield: | 6.369%
|
| Spread: | Treasuries plus 300 bps
|
| Bookrunners: | HSBC, Goldman Sachs
|
| Pricing date: | June 3
|
| Settlement date: | June 10
|
| Ratings: | Moody's: Baa3
|
| Standard & Poor's: BBB-
|
| Price talk: | Treasuries plus 300 to 310 bps
|
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