Banif – Banco Internacional do Funchal, S.A. places in
the international market € 440 million in Asset-Backed
Floating Rate Notes
Banif – Banco Internacional do Funchal, S.A. (Banif) informs that it placed successfully
in the international market € 440 million in Asset-Backed Floating Rate Notes issued
through its subsidiary Gamma, STC, S.A. (a Portuguese securitization company),
related to a securitization of a SME credit portfolio originated by the Bank in Portugal
(Atlantes SME 5). Stormharbour, LLC and Banif were Joint Arrangers & Lead Managers
and the Notes placed were rated “A-” by Standard & Poor’s and “A3” by Moody’s.
The demand for the issue stood at €543 million (1.23x oversubscribed). The issue was
subscribed by investors from different geographies (UK, Switzerland, Italy, Germany,
Holand, France, Spain and Latvia), with a margin of 1.20% above the 3M Euribor rate.
Lisbon, 6 July 2015
The Issuer
Banif – Banco Internacional do Funchal, SA
Limited Liability Company
Registered Office: Rua de João Tavira, 30 - 9004-509 Funchal
Share Capital: 1,720,700,000.00 euros
Single Registration and Corporate Taxpayer Number: 511 202 008