STXNEWS LATAM-Banco do Brasil adds $2.45 billion to Tier 1 capital via bonds

Mon Jul 14, 2014 8:55am EDT

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Brazilian state-run lender Banco do Brasil SA said on Monday that $2.45 billion raised from the sale of dollar-denominated, perpetual subordinated bonds were considered eligible to satisfy the bank's Tier 1 capital requirements under the central bank's guidelines to meet Basel III regulations.

Tier 1, or core equity, is a gauge of a bank's capital. The transaction will help add 66 basis points to the bank's regulatory Tier 1 capital ratio, the lender said in a securities filing.

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