Daycoval plans local bond

Daycoval plans local bond

Bonds

Brazilian lender Banco Daycoval is planning a dual-tranche local bond sale of up to BRL400m ($176m) according to Fitch, which has assigned a AA rating on a local scale. A two-year tranche will pay up to 113% over the DI and the three year, up to 116% over the DI, according to Fitch. The sale of letras financeiras — local market instruments for Brazilian banks — is rated in line with the lender. Daycoval’s rating is supported by consistent profitability even during times of stress, and careful ma

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