Itaú strengthens its capital with the issuance of R$ 3 billion in perpetual bonds.
Private bank launches subordinated bonds with call expected in 2031 and positive impact on core capital ratio.
247 - Itaú Unibanco announced the issuance of R$ 3 billion in perpetual subordinated financial letters, aimed at professional investors. The securities are perpetual and include a repurchase option ("call") starting in 2031, conditional upon authorization from the Central Bank of Brazil, a measure that strengthens the capital structure of the country's largest private bank. This information was... published by Brazil Stock Guide, this Wednesday (8).
According to the bank, the issued bonds will be classified as Supplementary Capital to the Conglomerate's Reference Equity, in accordance with BCB Resolutions No. 122 and No. 5.007. The estimated impact of the operation is 0,2 percentage points on the Tier 1 capitalization ratio, considering the base of June 2025.
The perpetual model, with the possibility of a call in 2031, offers flexibility for balance sheet management and meets the current regulatory requirements for instruments eligible for supplementary capital. However, the repurchase is subject to prior approval from the Central Bank.
By choosing this type of subordinated bond, Itaú increases its capacity to absorb losses before senior creditors and depositors, reinforcing its capital buffer. This practice is common among large global banks to optimize the core capital ratio and support credit expansion during periods of higher demand.
In the statement, the bank did not disclose details about the rate, the demand for the offering, or the profile of the buyers, limiting itself to stating that the placement was intended for professional investors. The classification of the securities as supplementary capital indicates a focus on regulatory and prudential efficiency, aligned with the guidelines of the Central Bank and industry practices.
