BicBanco Heads to Retail on New Terms

Brazil’s BicBanco, a midcap bank, is in the market with a $100m loan. Pricing on the deal was changed to Libor plus 110bp on a 1-year tranche and Libor plus 145bp on a two-year piece. Those margins were heard 30bp cheaper at launch. Sofisa, another mid-cap Brazilian bank recently closed a $185m A/B loan with the IFC that included a $30m 7-year piece at 187.5bp over Libor; a $120m 3-year bullet at 160bp over, and a $25m 5-year at Libor plus 175bp. Wachovia and Standard Chartered are leading the Bicbanco deal, while the IFC and Itau Europa led Sofisa.