New standardised finance for Brazil’s banks

Author: Danielle Myles | Published: 30 Aug 2011

The first public offering of Brazil’s latest financing tool indicates the country’s banks will soon have a new standardised form of long-term finance.

Lawyers who worked on RCI Brasil’s issuance of R$300 million ($188 million) letras financeiras, which closed on August 16, said that although market practice is still developing, all parties’ conduct in the lead up and execution of the deal suggest there is general agreeance on this new form of funding.

"The market is still developing a sense of the appropriate...