Investors Take Shine to Novel BB Perp
Banco do Brasil raised $1bn Thursday through a hybrid Tier-1 NC11 bonds, becoming the first LatAm issuer to test drive a new Basel III compliant structure. The deal could be used as a template for other financial institutions as they prepare to adapt to a new regulatory environment. The BB rated non-cumulative junior subordinated perp generated a book of $6bn...
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