Banco Votorantim Not Done in DCM

Banco Votorantim is planning to splash some senior debt on top of its recently raised $750m in Tier 2 capital. The Brazilian bank that is majority owned by Grupo Votorantim is readying 3-year senior bonds, of an undetermined size. Pricing is expected early next week, according to bankers managing the sale. BNP, Banco do Brasil, Bradesco and UBS are the leads and the deal is rated Baa2. Votorantim’s 2020 Tier 2 sale saw demand of $3.6bn and priced at par with a 7.375% coupon. BofA-Merrill Lynch, Banco do Brasil, Deutsche Bank and Itau managed that sale. Banco do Brasil owns 49% of Banco Votorantim.