May 3, 2012
Brazil’s Banrisul has been meeting investors this week to market a diversif
Brazil’s Banrisul has been meeting investors this week to market a diversified payment rights (DPR) securitization of up to $150m, according to investors. The bond is to have a 5-7 year tenor and be backed by payment rights from export receivables. Credit Agricole and BCP are managing the deal. The timing was unclear. DPRs have been a common tool for LatAm banks, though the deals in the last few years have tended to be private deals with one or two buyers, rather than widely marketed.