Brazil's BNDES sets talk for dollar benchmark five-year notes and tap of 2023 notes

By Christine Van Dusen

Atlanta, April 7 - Brazil's Banco Nacional de Desenvolvimento Economico e Social (BNDES) set talk for a dollar-denominated offering of benchmark-sized notes due in five years and a tap of its 5¾% notes due 2023, a market source said.

The notes were expected to price on Monday.

The five-year deal was talked at a spread of Treasuries plus 240 basis points to 250 bps.

The tap of the company's $1.25 billion 5¾% notes due Sept. 26, 2023 was talked at Treasuries plus 265 bps to 275 bps.

BB Securities, Citigroup, HSBC and Mitsubishi UFJ Securities are the bookrunners for the deal.

The proceeds will be used for general corporate purposes.

BNDES is an economic and social development bank based in Rio de Janeiro.

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