ITA? UNIBANCO: Bank prices US$ 1.25 billion Perpetual note



ITA? UNIBANCO: Bank prices US$ 1.25 billion Perpetual note

Brazilian bank Ita? Unibanco-effectively a US$ 1.25 billion of perpetual subordinated bonds of the emission with a 6.125% coupon. The interest rates change every five years, on the basis of United States Treasury notes yield on the date of valuation.

Ita? said in a statement that it might repurchase of the notes as of December 12, 2022, with the prior approval of the Brazilian authorities.

The bank will ask the Brazilian Central Bank permission, which notes in its regulatory capital as additional tier 1 capital, adding 60 basis points to the company’s Tier 1 capital ratio.

The bank explained that the notes are offered only to qualified institutional investors and non-U.S. investors outside the United States, but the issue is not the subject of the filing with the U.S. Securities and Exchange Commission (SEC) or the Brazilian Securities and Exchange Commission (CVM rules).

SOURCE



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