New Issue: Brazil's Banco Itau €200 million three-year floaters yield Euribor plus 47 bps

By Paul A. Harris

St. Louis, June 25 - Brazil's Banco Itau Europa SA priced €200 million of three-year floating-rate notes (Baa1/BBB+) Friday at 99.41, according to a market source.

The coupon will float at three-month Euribor plus 45 basis points. The yield is three-month Euribor plus 47 basis points.

HVB, ING and BIE Bank & Trust ran the books.

The financial institution is based in Sao Paulo.

Issuer:	Banco Itau Europa SA
Amount:	€200 million
Maturity:	July 12, 2007
Security description:	Floating-rate notes
Bookrunners:	HVB, ING, BIE Bank & Trust
Coupon:	Three-month Euribor plus 45 basis points
Price:	99.41
Yield:	Three-month Euribor plus 47 basis points
Pricing date:	June 25
Settlement date:	July 12
Ratings:	Moody's: Baa1
	Standard & Poor's: BBB+

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