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Name | Symbol | Market | Type |
---|---|---|---|
Banco Santander SA | NYSE:SAN | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.04 | 0.83% | 4.84 | 4.86 | 4.84 | 4.85 | 37,950 | 14:35:05 |
By Rogerio Jelmayer
SÃO PAULO-- Itaú Unibanco Holding SA, Brazil's second-largest bank by assets, raised $1 billion from a three-year overseas bond denominated in dollars, according to a person close to the operation.
The bank, which issued the bond via its Grand Cayman branch, will pay an annual yield of 2.85%.
The bank will use the proceeds for general purposes, according to the person, who declined to be named.
Bank of America Merrill Lynch, Citigroup Inc., Itaú BBA, Banco Santander SA and Banco do Brasil SA unit BB Securities coordinated the issue, the source said. An Itaú spokesman declined to comment.
Itaú became the second Brazilian company to tap the international debt markets this year but the first to tap the dollar-denominated bond market.
Other Brazilian borrowers, including the government, are expected to tap the international markets in the weeks ahead to take advantage of low interest rates across the globe, said a banker.
Earlier this year, cement and concrete producer Votorantim Cimentos SA was the first Brazilian company to issue debt abroad in 2015, but it opted for euro-denominated bonds, raising EUR500 million ($564 million).
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com
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