Sofisa Gets $140m Syndicated Loan

Sofisa Gets $140m Syndicated Loan

Bonds Structured Finance

Brazil’s Banco Sofisa has closed a $140m A/B loan via the IDB and Banco Itau Europa. The $25m, 5-year A loan came from the IDB. The B loan consists of 4 tranches. Two of the tranches are for 2 and 3 year tenors for a combined $90m. Another 2 tranches are valued at EUR18.6m and also have tenors of 2 and 3 years. The spread on the B loan was heard in the high 200bp over Libor area, according to a banker with knowledge of the transaction. Banco do Brasil Vienna, HSBC and Standard Bank were bookrunn

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