December 17, 2009
BNDESPar has closed its BRL1.25bn domestic bond sale, following final regulatory approval. The investment arm of the BNDES development bank has sold a BRL640m 2013 tranche pays a fixed rate of 12.750%, while a BRL610m 2015 tranche pays the IPCA index plus 7.078%. The prices for the two series were set by offering a 0.3% premium to the DI rate and 2015 NTN-B floating-rate government bond, respectively, according to regulatory documents. Banco do Brasil managed the sale, rated Aaa on a national scale. The company initially targeted a BRL1bn sale.