Santander issues first Brazilian covered bond

Brazil
By Bill Thornhill
30 Nov 2018

Santander Brasil has tested the country’s Letra Imobiliária Garantida (LIGs) covered bond regime with two privately placed deals.

Santander’s Brazilian subsidiary has issued the country’s first covered bonds, in the form of two private placements that are understood to have a combined value of about $6m.

The deals were designed to “test the bank’s systems”, according to a source close to the issuer. LIGs have ...

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