Court ruling pumps premium for BB perp
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Emerging Markets

Court ruling pumps premium for BB perp

Banco do Brasil priced it first Basel III compliant perpetual bond this week. A fresh ruling on a long standing court case that could leave Brazilian issuers owning billions of reals meant the issuer will have to pay a higher premium, said bankers on the deal. But with $12.6bn in orders the issuer had no trouble drawing enough demand.

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