Brief: Brazil's Itaú sells US$1.25bn notes abroad

Wednesday, December 6, 2017

Brazil's Itaú Unibanco raised US$1.25bn from an issue of overseas perpetual notes that will help reinforce its capital position.

The sale was carried out through Itaú Unibanco Holding S.A. (Cayman Islands) and the notes will pay investors an annual interest rate of 6.125%.

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Itaú said it will request approval from the Brazilian central bank for the notes to be classified as additional Tier 1 capital, which would add 60 basis points to its Tier 1 capital ratio.