Banco Bradesco’s $1.6 Billion Offering

Cleary Gottlieb represented BNP Paribas, Bank of America, Bradesco BBI, BTG Pactual, Citigroup, and Santander, as initial purchasers, in the offering of $800 million 2.85% notes due 2023 and $800 million 3.2% notes due 2025 issued by Banco Bradesco S.A. (Banco Bradesco), through its Grand Cayman branch, under a medium-term note program.

The transaction priced on January 22, 2020, and closed on January 27, 2020, and is one of the lowest-ever five-year bond yields issued by a Brazilian private sector bank.

Banco Bradesco is one of the largest private sector commercial banks operating in Brazil. It offers a wide range of banking and financial products and services to individuals, small- to mid-sized companies in Brazil and abroad, and large local and international corporations and institutions.