Published on 1/20/2011 in the Prospect News Emerging Markets Daily and Prospect News Investment Grade Daily.
New Issue: Brazil's Banco Safra sells $500 million 6¾% notes due 2021 at Treasuries plus 335 bps
By Christine Van Dusen
Atlanta, Jan. 20 - Brazil's Banco Safra SA priced $500 million 6¾% notes (Baa2) due Jan. 27, 2021 at 99.663 to yield Treasuries plus 335 basis points, a market source said.
Bank of America Merrill Lynch, Banco Safra, JPMorgan and UBS were the bookrunners for the deal.
Proceeds will be used for general corporate purposes.
Banco Safra is a Sao Paulo-based lender.
| Issuer: | Banco Safra SA
|
| Amount: | $500 million
|
| Maturity: | Jan. 27, 2021
|
| Description: | Subordinated tier 2 notes
|
| Bookrunners: | Bank of America Merrill Lynch, Banco Safra, JPMorgan, UBS
|
| Coupon: | 6¾%
|
| Price: | 99.663
|
| Spread: | Treasuries plus 335 bps
|
| Trade date: | Jan. 20
|
| Settlement date: | Jan. 27
|
| Rating: | Moody's: Baa2
|
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