trending Market Intelligence /marketintelligence/en/news-insights/trending/AF18DVMwIs4YqwiPIpap9w2 content esgSubNav
In This List

Itaú prices $1.25B perpetual debt offering

Podcast

Street Talk Episode 87

Blog

A New Dawn for European Bank M&A Top 5 Trends

Blog

Insight Weekly: US banks' loan growth; record share buybacks; utility M&A outlook

Blog

Banking Essentials Newsletter 2021: December Edition


Itaú prices $1.25B perpetual debt offering

Itaú Unibanco Holding SA on Dec. 5 priced a $1.25 billion offering of perpetual Tier 1 subordinated notes at 100%.

The notes, to be issued Dec. 12, will carry a fixed rate of 6.125% applicable for five years. After that, the coupon will be reset every five years based on the prevailing rate for U.S. Treasury bonds.

The Brazilian company said it will seek central bank approval to include the notes in its regulatory capital as additional Tier 1 capital, which would add 60 basis points to the lender's Tier 1 capital ratio.

Subject to regulatory approvals, Itaú may repurchase the notes after five years or on any subsequent interest payment date.