Brazil’s Bradesco mulls issuance of new bank subordinated debt

Brazil’s second largest private lender Banco Bradesco SA said it is likely to borrow money from the country’s central bank using its credit portfolio as collateral this month, vice-president Cassiano Scarpelli said. Earlier in April, the country’s Monetary Council authorized the central bank to lend directly to banks using credit portfolios as collateral, in a move that would allow banks in Brazil to issue 650 billion reais ($125.77 billion) in new loans.

Source: Reuters