Standard Bank London has launched and placed the following note issue for Brazil’s Banco Ita SA (acting through its Grand Cayman branch):
Issuer: Banco Ita SA
Amount: US$150mn
Tenor: 18 months
Coupon: 5% pa
Re-offer yield: 5.05% pa
Issue price: 99.9283%
Sole bookrunner: Standard Bank London
Standard Bank London acted as sole bookrunner for the issue and was joined as joint lead manager by BIE-Bank & Trust Limited and Ita Bank Limited. The issue was originally announced on May 7, 2003 as a US$50mn note issue with a yield range of 5% pa to 5.25% pa. Strong demand for the Ita name provided the necessary momentum for a tripling of the original deal size to US$150mn. Pricing came in at the lower end of the indicative yield range. Settlement of the issue occurred on May 28, 2003 .
Banco Ita is the second-largest private-sector Brazilian bank, with a stockholders’ equity of R10bn as of March 31, 2003 and assets of R113.1bn. It operates as a multiple service bank.
Issuer: Banco Ita SA
Amount: US$150mn
Tenor: 18 months
Coupon: 5% pa
Re-offer yield: 5.05% pa
Issue price: 99.9283%
Sole bookrunner: Standard Bank London
Standard Bank London acted as sole bookrunner for the issue and was joined as joint lead manager by BIE-Bank & Trust Limited and Ita Bank Limited. The issue was originally announced on
Banco Ita is the second-largest private-sector Brazilian bank, with a stockholders’ equity of R10bn as of
