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Brazil's Banco Votorantim reopens 2020 bond.

Global Banking News-20 July 2010-Brazil's Banco Votorantim reopens 2020 bond(C)2010 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 20 July 2010(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Brazil's Banco Votorantim has launched a USD400m reopening of its existing 2020 bonds on Monday, offering investors a yield of seven percent, Dow Jones has reported citing a person close to the deal.

Bank of America Merrill Lynch (BofA) (NYSE: BAC), Deutsche Bank (NYSE: DB) (DBK.DE) and RBS (LSE: RBS) (NYSE: RBS-PP) are lead managers of the deal, which is set to price later on Monday.

The bonds, which carry a coupon of 7.375 percent, will mature on January 21, 2020. The bond is rated 'Baa2' by Moody's.

Government-controlled Banco do Brasil (RIO: BBAS3) has a 49.99 percent stake in the company.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Jul 20, 2010
Words:160
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