Brazilian banks back as Voto brings AT1, Itaú lines up
Banco Votorantim kicked off a run of issuance from Brazilian banks with a Basel III-compliant additional tier one perpetual non-call five deal on Thursday.
Taking advantage of strong appetite for high yield paper, Ba2/BB rated Votorantim announced initial price thoughts of mid to high 8% for its B2/CCC+ non-cumulative junior subordinated notes on Thursday.
Strong demand allowed the bank to launch the deal at 8% as GlobalCapital was going to press.
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com