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
SYNDICATED LOAN: Itaú BBA $1.5bn term loan
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
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
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
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