Banco Safra has raised $500 million in a sale of notes, Reuters reports. The unsecured subordinated Tier II notes of the Brazilian bank were sold in the 144a private placement market.
Bank of America Merrill Lynch, JP Morgan, UBS along with Banco Safra were the joint bookrunning managers for the deal. The notes carry a coupon rate of 6.750%, and are due to mature on Jan. 27, 2021. Click here for the story from Reuters.