November 9, 2012
Cielo is heard aiming for a yield of UST+235bp (+/-10bp), revised from mid
Cielo is heard aiming for a yield of UST+235bp (+/-10bp), revised from mid UST+200bp-area, for a new $875m 10-year bond, according to investors. The Brazilian credit card payment processor was scheduled to complete a roadshow Thursday and price the debut international bond as soon as today. Proceeds are expected to be used to fund the acquisition of US payment processor Merchant e-Solutions. Banco do Brasil, Bradesco and Goldman Sachs are managing the deal, rated BBB+/Baa2.