ABC Reopens Subordinated Bond

ABC Reopens Subordinated Bond

Brazil Bonds

Banco ABC Brasil emerged Thursday with a $100m retap of its Tier 2 2020 bonds, a move that shows it is in solid standing with investors at a time when several members of its peer group are struggling. The mid-sized bank drew $650m in orders and brings the outstanding size of the bond to $400m. The 7.875% subordinated bonds reopened at 106.50, at the high end of 106.00-106.50 guidance revised from 105.0-area, to yield 6.756% or UST+572.1bp. The bonds were quoted at 6.65% pre-announcement. “ABC is

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