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Banco Bradesco sells $1bn in subordinated bonds

August 11, 2010
Brazilian bank Banco Bradesco sold $1bn in subordinated bonds yesterday. Bonds carrying 5.9% coupons have a tenor of 10.5 years. Yield at primary placement stood at 5.95% equaling a 312 bp spread to 10Y UST. According to LatinFinance, demand for bonds exceeded supply four times, and the order book reached $4bn. BofA Merrill Lynch, HSBC, JP Morgan, Banco Bradesco arranged the transaction.
  • Status
    outstanding
  • Country of risk
    Brazil
  • Redemption (put/call option)
    *** (***)
  • Amount
    1,600,000,000 USD
  • М/S&P/F
    — / — / —