BdB Adds Senior Debt

BdB Adds Senior Debt

Brazil Bonds

Banco do Brasil (BdB) has returned to the dollar market for an opportunistic $1.75bn 10-year senior bond, getting more than $11bn in demand. “We have been starved for senior paper after seeing quite a bit of Tier 2,” says one investor following the trade, referring to recent sales from banks including BTG Pactual, BBVA Bancomer and Bancolombia. Banco do Brasil priced the new 2022 senior unsecured bond at 98.978 with an 3.875% coupon to yield 4.000%, or UST +237bp, tight to 4.125%-area guidance r

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