ABC Brasil Raises Tier 2

ABC Brasil Raises Tier 2

Middle East

Banco ABC Brasil has sold $300m in Tier 2 bonds in its debut dollar market issue. The Ba1 rated mid-sized corporate credit specialist controlled by the Arab Banking Corporation priced the 2020 at 98.311 with a 7.875% coupon to yield 8.125%, or UST plus 428.8bp, in line with 8.125% area guidance. The book reached more than $600m, according to bankers on the deal, with more institutional participation than had been anticipated. The deal went 32% to European accounts, 31% to North America, 22% to L

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