Brazil's Banco Itau closed a $345 million deal backed by diversified payment rights (DPRs) on June 30. Proceeds went, at least in part, to prepay an existing series off the bank's securitization program, according to Monica Arruda, a senior manager at ITAU.
A seven-year, $200 million tranche wrapped by Ambac priced at 20 basis points over six month Libor, according to a source familiar with the deal. A three-month, $145 million unwrapped tranche priced at 30 basis points over six month Libor. Standard & Poor's rated the unwrapped notes BBB'.