Banco do Brasil set for B3 triplet

Banco do Brasil set for B3 triplet


Banco do Brasil is expected to finalize its third sale of a Basel III hybrid today, after lead managers guided price tighter on Tuesday. Initial price thoughts on the perpetual non-call 10-year note began at mid-9% area. Lead managers were heard to revise that later, to 9% to 9.25%. Lead managers opened books in Asia hours on Tuesday, and the deal was heard to have attracted around $3.3bn of orders by mid-morning New York time. The deal structure matches the amended, final form of the Baa2/BBB/B

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