Brazil's Banco Safra offers R$800 million notes due 2016 to yield 10¼%

By Christine Van Dusen

Atlanta, Aug. 3 - Brazil's Banco Safra SA launched a R$800 million issue of notes due 2016 (Baa1/BBB-) to yield 10¼%, a market source said Wednesday.

Banco Safra, JPMorgan and UBS are the bookrunners for the Rule 144A and Regulation S deal, which was talked at 10¼% to 10 3/8%.

The notes will be payable in dollars, and proceeds will be used for general corporate purposes.

Banco Safra is a lender based in Sao Paulo.

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