New Issue: Brazil's Banco Safra sells $300 million 3½% notes due 2014 at Treasuries plus 262.5 bps

By Christine Van Dusen

Atlanta, May 13 - Brazil's Banco Safra SA priced $300 million 3½% notes due May 16, 2014 at 99.862 to yield Treasuries plus 262.5 basis points, a market source said.

The notes priced at the high end of talk, which was set at the Treasuries plus mid-200 bps area.

Barclays Capital, Banco Safra and UBS were the bookrunners for the Regulation S notes.

Banco Safra is a Sao Paulo-based lender.

Issuer:	Banco Safra SA
Amount:	$300 million
Maturity:	May 16, 2014
Description:	Notes
Bookrunners:	Barclays Capital, Banco Safra, UBS
Coupon:	3½%
Price:	99.862
Spread:	Treasuries plus 262.5 bps
Trade date:	May 12
Settlement date:	May 16
Distribution:	Regulation S
Price talk:	Treasuries plus mid-200 bps area

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