The PagBank, complete digital bank in financial services and means of payment, elected the best PJ account by the portal iDinheiro and one of the main digital banks in Brazil, concluded its second public issue of Financial Letters (LFs), in the volume of R$ 920.3 million. With a single series with a term of 2 years, the issue had Banco UBS as the lead coordinator of the operation, and Itau BBA as coordinator.
Total demand was R$ 2.2 billion, equivalent to 3.2x supply, with final remuneration of CDI +0.45% per year, representing a reduction success of -12 basis points in relation to the ceiling rate of the initial offer. The funds raised will be used for corporate purposes, such as financing the growth of the acquisition and credit operations of the digital bank.
“We aimed to capture R$ 700 million, with a ceiling rate of CDI +0.57% per year and, given the strong demand, we were able to issue 30% more than expected. The success of this second issue reinforces the market confidence in the strength of our business model and the consistency of our growth strategy”, says Artur Schunk, CFO of PagBank.
As with the first issue, the digital bank achieved brAAA rating, the highest on the national scale, reinforcing financial health and discipline, and a clear long-term vision of PagBank.
One of the largest digital banks in the country in number of customers, PagBank offers tools for face-to-face and online sales (such as card machines; Tap On 'THAT transforms the mobile phone into a machine with the PagBank app; payment link; checkout options for e-commerce, among others), complete digital account for individuals and legal entities, as well as features that contribute to financial management, such as Payroll. In PagBank, the credit card has a guaranteed limit and investments become a limit for the card itself, enhancing the gains of customers.
