By Mary-Katherine Stinson
Lexington, Ky., Dec. 18 – Brazil's Itau Unibanco Holding SA issued R$1.5 billion of level 2 subordinated financial bills, according to a 6-K filing with the Securities and Exchange Commission.
The bills mature in January 2034.
Under a resolution of the Central Bank of Brazil, the bills will make up the tier 2 capital of the company with an estimated impact of 12 basis points on its tier 2 capitalization ratio.
The bills were underwritten by Opea Securitizadora SA, which issued real estate receivables certificates backed by real estate credit notes to the public and qualified and professional investors. The certificates represent financial bills.
The proceeds will be allocated through the company’s subsidiaries for rent payment.
The purpose of the issue was to optimize the company’s capital structure given its asset growth, according to the announcement.
Itau Unibanco is a lender based in Sao Paulo.
| Issuer: | Itau Unibanco Holding SA
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| Amount: | R$1.5 billion
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| Issue: | Subordinated financial bills
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| Underwriter: | Opea Securitizadora SA
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| Maturity: | January 2034
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| Announcement date: | Dec. 15
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