BicBanco Clinches $90m Loan

Brazilian mid-cap bank BicBanco has raised $90m through an add-on B facility, a follow-up to its $100m 3-year A/B loan raised in June 2007. The 3-year bullet pays Libor plus 185bp. Last June, the $80m B loan it raised came at 150bp over Libor, while the $20m 5-year A loan carries a margin of Libor plus 175bp. Leads for the follow-up transaction include Banco Real – now Santander – WestLB and Commerzbank. HSBC and Standard Chartered are arrangers and Israel Discount Bank came in as a participant.