Itaú notches oversubscription on T2 return

Banco Itaú, Brazil, bank, cash machine, lender, LatAm
By Oliver West
14 Nov 2019

Brazilian lender Itaú raised $750m of tier two notes on Wednesday, its first ever issue of Basel III-compliant tier two bonds in the international market.

Leads BB Securities, Goldman Sachs, HSBC, Itaú and JP Morgan had wrapped a two day roadshow with Itaú on Tuesday and wasted no time setting initial price thoughts at mid to high 4% area for a 10 year non-call two bond.

Itaú, rated Ba2/BB-/BB, is the ...

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