Banco Cruzeiro do Sul has raised $400 million in a sale of notes, Reuters reports. The senior unsecured securities were sold in the144a private placement market.
The Brazilian commercial bank appointed Barclays, Banco Comercial Portugues and UBS as the joint bookrunning managers for the deal. The notes carry a coupon rate of 8.25% and are due to mature on Jan. 20, 2016.
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