October 27, 2010
Brazil’s Banco Bonsucesso is set to close a tier 2 bond this morning, after
Brazil’s Banco Bonsucesso is set to close a tier 2 bond this morning, after extending investor meetings as it builds the $150m deal. The 2020 bond is set to yield 9.50%, the wide end of 9.25%-9.50% guidance given last week. Proceeds will provide funds to increase the issuer's lending operations, while maintaining a minimum reference stockholders' equity ratio of 15%, and for other general corporate purposes. Espirito Santo and Santander are managing the Ba3 deal.