Banco BMG SA is trading up to 350 million reais in subordinated notes and senior debt, the institution said in a filing Aug. 1.
The São Paulo-based bank will place until Sept. 16 up to 300 million reais in senior notes with maturities of between two and four years. Additionally, BMG will sell up to 50 million reais in both 10-year and perpetual subordinated debt.
The notes will be sold in private placements on a first-come, first-served basis, according to the company release.
The bank said it will channel resources tapped from the junior debt issuance into its equity with the goal of "optimizing its capital structure," pending authorization from Banco Central do Brasil.
As of Aug. 1, US$1 was equivalent to 3.82 Brazilian reais.