SYNDICATED LOAN: Itaú BBA $1.5bn term loan

Jan 17, 2014

Itaú BBA opened the way for other Latin American banks to tap international lenders for funding the largest loan transaction ever made to a LatAm institution

Latin America's syndicated loan market regained much of its lost momentum in 2013. Lenders from Asia, the Middle East and Latin America itself have filled the space left by European institutions.

Itaú's investment banking arm made full use of the favorable conditions to raise a $1.5 billion senior unsecured term loan - twice the size it had been targeting and opening links to a new suite of relationship banks.

"There has been a good appetite in the loan market, and we saw at the beginning of the year very good appetite for our name," says Marcelo Rosenhek, funding director at Itaú BBA.

Announcing the deal in April, Itaú targeted $750 million - a sum larger than anything lent to a Latin American bank in recent years. The borrower, however, reckoned the...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial



LatinFinance Events

Poll

Are populist governments like Venezuela & Argentina turning pragmatic?

Vote    




“The crisis has been a setback for reserve diversification."

Jan Dehn, Ashmore Investment Management