Santander Brazil Raises DPR

Santander’s Brazil unit has raised $100m through the placement of DPR bonds. Bank of Tokyo Mitsubishi, which has bought previous DPR tickets from Santander in the past, swallowed the entire lot. The notes, backed by financial future flows, including remittances, has an A rating from Fitch. The deal is from the bank’s 2008-2 notes series, and brings the total outstanding amount to $400m. Mayer Brown represented the underwriter while Dewey & LeBoeuf represented Santander.