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BicBanco follows Banco PanAmericano and taps debt markets with $300 mln bond issue

April 21, 2010
Yesterday Brazil’s BicBanco sold $300 mln of new Tier 2 bonds. Due to high demand for the issue, reaching $800 mln, BinBanco managed to issue more debt than initially planned, Latin Finance reports. The debt maturing in 2020 was priced at 99.174 and combined with an 8.5 % coupon, initially yielded 8.75%.
The deal was allocated among the US (41%), Europe (25%) and Asia (25%). HSBC, JP Morgan and Standard Chartered arranged the sale.
  • Status
    redeemed
  • Country of risk
    Brazil
  • Redemption (put/call option)
    *** (***)
  • Amount
    300,000,000 USD
  • М/S&P/F
    — / — / —