Banco Votorantim Ups Issue

Brazilian bank Banco Votorantim upped a Eurobond issue to $125 million from $100 million on strong investor demand. The three-year bonds were placed with a coupon 125 basis points above Libor. Banco Votorantim was Brazil’s ninth largest bank in terms of equity at the end of last year and is part of Votorantim Group, one of the biggest industrial conglomerates in Brazil.