December 7, 2020
Itaú Unibanco, the largest privately owned bank in Brazil, said it issued $2.1 billion worth of Tier 2 subordinated notes in a private placement with "professional investors."
The new notes mature in nine and 10 years, but the São Paulo-based lender can repurchase them in 2025 and beyond, subject to authorization from the central bank, Itaú said in a securities filing on Thursday.
Itaú also said it will request approval from the central bank to include the funds raised as Tier 2 capital, adding
Brazilian bank asks to include $2.1 bln in fresh funds in Tier 2 capital