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.
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
"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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