Banco Itau Chile is offering Libor plus 90bp on a 2 year $150m term loan facility, according to bankers not on the deal. Credit Agricole and BNP Paribas are the leads on the transaction, with the banks meeting set for Wednesday. Bankers away from the deal expect proceeds of the loan to go toward general corporate purposes. Two bankers say pricing seems a little tight, compared to the loans of other Chilean financial institutions with substantially larger market shares. In August, Santander Chile received a $175m syndicated loan from 8 banks, including 3 Taiwanese participants. The 18 month facility priced at Libor plus 80bp. Chile’s Corpbanca also closed a $167.5m 2 year loan in August. Pricing was on a ratings grid, out of the box at 95bp for BBB+.
Category: Loans
Best Bank – Argentina
Santander Río’s strength in retail contributes significantly to it being the most profitable private financial institution in Argentina, says Guillermo Glattstein, strategic planning manager at the bank.
Best Bank – Peru
In the April-June period, Banco de Crédito Del Peru (BCP) achieved some of its best quarterly results to date, supported by a strong reactivation of the Peruvian economy.
Best Bank – Venezuela
Mercantil Banco Universal has been expanding its loan portfolio, which has led to year-on-year growth despite a economic contraction and slow liquidity growth in Venezuela.
Best Bank – Panama
Banco General takes top prize for Panama for the second year in a row.
Best Bank – El Salvador
El Salvador’s Banco Agrícola, part of Colombia’s Bancolombia since 2007, is expected to end this year with results that compare favorably with those obtained at the end of 2009, says Fitch, which has an AA+ (stable) local rating on the bank.
Best Bank – Dominican Republic
Banco de Reservas has shrugged off macroeconomic weakness in the Dominican Republic caused by the global financial crisis and continues to grow.
Best Bank – Ecuador
Ecuador’s Banco Pichincha has been busy expanding within and beyond the country’s borders. At the same time, it has been able to keep its financial indicators in line with or better than that of the banking system as a whole.
Best Bank – Jamaica
Jamaica’s National Commercial Bank (NCB) has passed the test of a weak local economy and a sovereign debt restructuring relatively unscathed, as profitability and liquidity remain at acceptable levels.
Best Bank – Puerto Rico
Puerto Rico has been suffering a recession for more than four years. Several banks have collapsed, unemployment has soared and bankruptcies have increased.