By Christine Van Dusen
Atlanta, July 1 – Brazil’s Odebrecht Oil & Gas priced a $150 million tap of its 7% perpetual notes at 103 on Tuesday, a market source said.
Morgan Stanley, BB Securities and Bradesco BBI were the bookrunners for the Rule 144A and Regulation S deal.
The proceeds will be used to prepay corporate loans.
The original issue of $400 million notes priced at par.
The notes were issued by Odebrecht Oil & Gas Finance Ltd. and guaranteed by Odebrecht Oil & Gas.
Odebrecht is an engineering, construction, chemical and petrochemical conglomerate based in Salvador da Bahia, Brazil.
Issuer: | Odebrecht Oil & Gas Finance Ltd.
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Guarantor: | Odebrecht Oil & Gas
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Amount: | $150 million
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Maturity: | Perpetual
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Description: | Notes
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Bookrunners: | Morgan Stanley, BB Securities, Bradesco BBI
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Global coordinators: | HSBC, Itau BBA, Santander
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Coupon: | 7%
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Price: | 103
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Trade date: | July 1
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Rating: | Standard & Poor’s: BBB-
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Distribution: | Rule 144A and Regulation S
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