By Christine Van Dusen
Atlanta, Feb. 6 - Brasil Telecom SA - a subsidiary of Rio de Janeiro-based telecommunications company Telemar Norte Leste SA - priced $1.5 billion notes due Feb. 10, 2022 (expected ratings: Baa2/BBB-/BBB) at par to yield 5¾%, a market source said.
The notes were talked in the 6% area.
Bank of America Merrill Lynch, Barclays Capital, Espirito Santo Investment Bank and HSBC were the bookrunners for the Rule 144A and Regulation S deal.
Proceeds will be used for general corporate purposes.
| Issuer: | Brasil Telecom SA
|
| Amount: | $1.5 billion
|
| Maturity: | Feb. 10, 2022
|
| Description: | Senior notes
|
| Bookrunners: | Bank of America Merrill Lynch, Barclays Capital, Espirito Santo Investment Bank, HSBC
|
| Coupon: | 5¾%
|
| Price: | Par
|
| Yield: | 5¾%
|
| Trade date: | Feb. 6
|
| Settlement date: | Feb. 10
|
| Expected ratings: | Moody's: Baa2
|
| Standard & Poor's: BBB-
|
| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
|
| Price talk: | 6% area
|
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