Votorantim Looks to Swiss Market

Banco Votorantim plans to become the first Brazilian issuer in Swiss francs in more than 10 years, with a CHF200m bond set to price as soon as tomorrow, according to bankers on it. The Brazilian bank is looking at a 3-year bond, with price talk indicating a 2.75% yield. Deutsche Bank is managing the sale. The last CHF issuance for a Brazilian entity was BNDES, with a CHF150m sale in 1997, according to Dealogic. It does not show any previous public market CHF issuance from a Brazilian corporate issuer.