Bicbanco Tries A/B Funding

Bicbanco Tries A/B Funding

Brazil Loans

Brazilian mid-tier lender Bicbanco has sent out letters of invitation to banks for a $250m dual currency A/B loan supported by the IDB. The A loan has a $50m size and a 5-year tenor, while the B portion is being run by Citigroup, Standard Chartered, Wells Fargo and WestLB and consists of a $120m 3-year and an $80m 2-year. Participants on the 2-year can lend in either USD or EUR, respectively paying Libor+250bp or Euribor+212.5bp. The 3-year B loan carries a margin of L+275bp. The four leads have

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