Brazil's Banco Votorantim talks $200 million 10-year notes at 6¾% area

By Reshmi Basu

New York, Sept. 11 - Brazil's Banco Votorantim set initial price guidance for a $200 million offering of 10-year notes (Ba2/BB/BB+) in the area of 6¾%, according to a market source.

The roadshow is scheduled to wrap up in New York and the West Coast on Tuesday.

Citigroup and BNP Paribas are bookrunners for the Rule 144A and Regulation S offering, which will be sold via the issuer's Nassau branch.

The notes are non-callable for five years. If the notes are not called, then the coupon steps up to 150% of the original spread.

Proceeds will be used for general corporate purposes.

The issuer is a financial institution with headquarters in Sao Paulo, Brazil.

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