Embraer Targets Mid Sixes

Brazilian aircraft maker Embraer is out with whispers of mid 6% area on a new 2020 bond, which will be sized at $500m-$600m, say bankers involved in the trade. The company, which wraps up roadshow meetings in Boston and Los Angeles today, has also indicated it will price Thursday. The goal is to show accounts that pricing will likely come closer to 6.500%-6.625% than 7.000% or higher, according to an executive involved. The company is also seen happy to settle for a $500m print if pricing at that level is more suitable. Deutsche Bank and Morgan Stanley are leading the offering.