Banco do Brasil targets third Basel III hybrid

Banco do Brasil targets third Basel III hybrid

Equity

Banco do Brasil is preparing to sell a third Basel III hybrid tier one security and is set to meet investors globally to test appetite for such a deal, LatinFinance understands. The Baa2/BBB/BBB rated borrower has mandated BB Securities, BNP Paribas, Citigroup, HSBC, JPMorgan and Standard Chartered to organize meetings in Asia, Europe and the US. The new bond is understood to mimic the final structure of two previous additional tier one securities sold by the Brazilian lender, a 9.25% perpetual

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