Fitch to rate Itau Unibanco notes B

Fitch Ratings said it assigned an expected rating of B to Itau Unibanco Holding SA’s subordinated perpetual T1 notes. The amount of the dollar-denominated notes is yet to be determined. The notes will be issued under the bank’s global medium-term note program through its Grand Cayman Branch. These tier 1 subordinated notes constitute unsecured and subordinated obligations of the issuer.

The notes will have no fixed maturity date as they are perpetual securities; however, the notes may be redeemed subject to the approval of the Brazilian central bank at Itau Unibanco’s option on the fifth year anniversary of this issuance or any coupon thereafter. The proceeds will be used for general corporate purposes.

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