Itau Unibanco Seeks Asia lenders

Brazil’s Itau Unibanco is looking to the Asia market to close a $200m syndicated term loan by the end of July. The spread on the 3-year bullet, which was launched mid-June, is Libor plus 120bp. Between 5 and 10 banks are expected to participate, says a banker on the transaction. BNP Paribas is admin agent and MLA, joined by Mizuho as another MLA. Lead arranger fees are 40bp for commitments of $20m, arrangers get 35bp for $15m- $20m, lead managers get 30bp for $10m-$14m and managers will receive 22.5bp for $5m-$9m tickets. Proceeds will be used for general corporate purposes, says the banker on the deal.