Votorantim Breaks Swiss Barrier

Votorantim Breaks Swiss Barrier

Brazil Europe Bonds

Banco Votorantim has raised CHF250m, becoming the first non-sovereign Brazilian entity to do a public transaction in that currency. The bank sold a 2013 bond at par with a 2.75% coupon, to yield Swiss mid-swaps plus 204.25bp, in line with 2.75% area guidance offered Tuesday. The order book was just over CHF250m. Bankers on the deal say Swiss market transactions are not typically oversubscribed by much. It was allocated to 40 plus accounts, mainly in private banking and asset management, accordin

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