Many of the top-tier loan market regulars in Latin America have
filled their immediate funding needs, or are looking at other
financing options, such as the local bond markets. A few big
deals have closed in the loan market in recent months.
NEWS LOANS/PEOPLE: Broadening market
After a slew of large corporate loans, deals for smaller,
lower-rated borrowers are coming through.
By Karen Schwartz
But a slowdown in these deals leaves room for smaller, rarer
borrowers to make their way to the loan market.
Among the biggest deals to come through the syndicated loan
market in May and June, Banco Itaú’s
three-year loan stands out. The Brazilian bank’s
loan grew from $1 billion to $1.7 billion, topping the $1.5
billion jumbo loan it closed in 2013. Some 26 banks
participated, including leads Bank of America-Merrill Lynch,
BNP Paribas, Citi, HSBC and JPMorgan. The loan pays 135 basis
points over Libor.
A five-year revolving credit facility for BRF (Brasil Foods)
Already have an account?
Subscribe now for unlimited access to all current and archive news, data and market analysis.
Take a free two-week trial now for the latest news, data and market analysis.