By Colin Hanner
Chicago, May 3 – Brazil’s Banco Nacional de Desenvolvimento Economico e Social (BNDES) priced $1 billion 4¾% seven-year green bonds to yield 4.8% on Tuesday, a market source said.
The bonds (Ba2/BB) priced at 99.706, a market source said.
BofA Merrill Lynch, Credit Agricole CIB and JPMorgan were the bookrunners for the deal.
Proceeds will be used to fund green-eligible projects.
BNDES is an economic and social development bank based in Rio de Janeiro.
| Issuer: | Banco Nacional de Desenvolvimento Economico e Social
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| Description: | Green bond
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| Amount: | $1 billion
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| Maturity: | May 9, 2024
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| Bookrunners: | BofA Merrill Lynch, Credit Agricole CIB and JPMorgan
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| Coupon: | 4¾%
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| Price: | 99.706
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| Yield: | 4.8%
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| Trade date: | May 2
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| Settlement date: | May 9
|
| Ratings: | Moody’s: Ba2
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| S&P: BB
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