BTG Pactual joins chorus of Brazilian banks, prints 2023s

BTG Pactual joins chorus of Brazilian banks, prints 2023s

Bonds Debt Capital Markets Fixed Income Brazil

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

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