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Banco do Brasil to Issue $500 Million in Overseas Bonds

SAO PAULO--Latin America's biggest bank by assets, Brazil's state-run Banco do Brasil SA (BDORY, BBAS3.BR), is planning to raise $500 million via an overseas bond issue, ratings agencies of Standard & Poor's Corp. and Moody's Corp. (MCO) said Tuesday. The bonds will mature in ten years. The issue will be made via the bank's Grand Cayman Branch. In February, the Banco do Brasil raised $750 million from the reopening of its perpetual bond, paying an annual yield of 8.48%. Attempts to reach Banco do Brasil for confirmation and further details were not immediately successful. Write to Rogerio Jelmayer at rogerio.jelmayer@dowjones.com

Stock News for Moodys (MCO)
DateTimeHeadline
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