Brazil's Banco Votorantim reopens 2020 bond.
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.
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