By Guillermo Parra-Bernal
NEW YORK (Reuters) - State-controlled Banco do Brasil SA
Banco do Brasil is seeking to attract Asian investors to the deal, said one of the sources, who declined to be identified since the transaction is in the works. A second source said the loan would have two portions of three and four years, respectively.
The first source said that if market conditions turn out favorable, the amount raised could go "north of the $1 billion mark." None of the sources detailed the targeted cost of borrowing for both tranches.
The second source added that the Asia-based units of JPMorgan Chase & Co
Many Brazilian companies are actively marketing fundraising deals in international debt markets before the end of the year, with state-controlled oil producer Petróleo Brasileiro SA
Vale, Petrobras and Banco do Brasil could obtain fresh funds for investments and other corporate purposes earlier than usual to mitigate fundraising risk ahead of the presidential election in Brazil next October and the U.S. Federal Reserve's expected tapering of years of monetary stimulus.
(Reporting by Guillermo Parra-Bernal; Editing by Steve Orlofsky)