Daycoval Raising $100m A/B Loan

Brazil’s Banco Daycoval, which did an IPO in July, is raising $100m through an IFC A/B loan. The four-year financing consists of a $30m A loan and a $70m B loan, which is being jointly syndicated out by the IFC and Itaú Europa, the European arm of Itaú. The B loan pays Libor plus 145bp, and proceeds are for general corporate purposes. With the freshly raised equity, Daycoval and a slew of other mid-cap Brazilian banks have room on their balance sheets to take on debt, and will likely be tapping the loan market locally and internationally.