September 18, 2019 |
Brazil's Banco Votorantim raised $850m from a two-part international bond sale on Tuesday, sharply tightening the yield as investors looked to get in on the bank's improving business, a banker on the deal told LatinFinance.
The bookrunners BB Investimentos, Bradesco BBI, Itaú BBA, JPMorgan and SMBC opened the initial price talk at 4.25% for $400m in three-year notes and 4.9% for $450m in five-year notes. But they tightened the spreads to price the three-year notes at 4% and the five-year notes a
Brazilian bank raises $850m in a deal more than three times oversubscribed, source says