Standard Bank London has launched and placed a short-term note issue for Brazil’s Unibanco – Uni de Bancos Brasileiros SA (acting through its Grand Cayman branch). The amount is US$125mn, the tenor six months. The coupon pays 5% per annum. The yield is 5.125% per annum. The issue price is 99.9391%.
The deal, for which Standard Bank London and Unibanco Securities acted as joint lead managers, was originally announced as a US$50mn note issue on March 5, 2003 with an indicative yield range of 5.125% pa. to 5.375% pa. Strong demand from the lead managers” client bases coupled with favourable market conditions provided the necessary momentum to increase the deal size to US$125mn and price the transaction at the lower end of the indicative yield range. The notes are being issued under Unibanco’s US$2bn medium-term note programme and are due to settle March 17, 2003.
Unibanco ranks as Brazil’s third largest private sector bank with assets of R73.4bn and equity of R6.2bn.