December 8, 2017 |
BTG Pactual joined a recent chorus of Brazilian FIs, printing $500m in unsecured 2023 notes, DCM sources confirmed on Thursday.
Banco do Brasil, Bradesco, Citi, Deutsche Bank, Morgan Stanley and UBS started talks on Wednesday in the 6% area before launching at 5.625%. At pricing, the financial services firm inked a 5.5% coupon to yield 5.625%, or a reoffer price of 99.437.
“Its fundamentals have improved over the past year so we looked at it,” one fixed-income investor said.
A second investor sa
Financial services firm sells $500m in new bonds, tightens trade from initial price talk to launch