By Christine Van Dusen
Atlanta, Jan. 13 - Brazil's Banco Nacional de Desenvolvimento Economico e Social (BNDES) sold €650 million 3 5/8% notes due Jan. 21, 2019 (expected ratings: Baa2/BBB/) at 99.292 to yield 3.783%, or mid-swaps plus 260 basis points, a market source said.
The notes were talked at a spread in the 265 bps area.
Deutsche Bank, JPMorgan and Santander GBM were the bookrunners for the Rule 144A and Regulation S deal.
BNDES is an economic and social development bank based in Rio de Janeiro, Brazil.
| Issuer: | Banco Nacional de Desenvolvimento Economic e Social (BNDES)
|
| Amount: | €650 million
|
| Maturity: | Jan. 21, 2019
|
| Description: | Senior notes
|
| Bookrunners: | Deutsche Bank, JPMorgan, Santander GBM
|
| Coupon: | 3 5/8%
|
| Price: | 99.292
|
| Yield: | 3.783%
|
| Spread: | Mid-swaps plus 260 bps
|
| Trade date: | Jan. 13
|
| Settlement date: | Jan. 21
|
| Expected ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB
|
| Distribution: | Rule 144A/Regulation S
|
| Price talk: | Mid-swaps plus 265 bps area
|
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