BTG guides 4.3% for first renminbi benchmark from Brazil
BTG Pactual has opened books on the first ever renminbi public bond issue from a Brazilian borrower, setting price guidance in the 4.3% area and aiming for benchmark size, according to a banker working on the deal.
The Baa3/BBB- rated merchant bank aims to sell a three-year senior unsecured Reg S bond through BTG, Citic Securities and Standard Chartered.
In February BTG sold a Rmb100m ($16m) private placement through StanChart, issuing a bond due in 2014 at a yield of 3.1%. Bradesco, Itaú and Banco do
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