The Bank Of New York recently announced that it has been appointed as trustee, registrar, and paying agent by Banco Bradesco, S.A. for its Diversified International Payment Rights US$400,000,000 Notes. The notes are divided into two series: a Fixed Rate Series 2003-1 for US$200,000,000 6.75% Notes and a Floating Rate Series 2003-2 for US$200,000,000 Notes.
Banco Bradesco, in conjunction with its subsidiaries, has 3,362 branches in Brazil and seven branches and seven subsidiaries located in New York, the Grand Cayman Islands, the Bahamas, Buenos Aires, Tokyo, and Luxembourg. It is one of the largest private sector banks in Brazil by total net worth. In late June, 2003, Banco Bradesco, on a consolidated basis, had approximately R$154.5 billion in total assets, R$53 billion in credit operations, R$56.8 billion in total deposits and R$12.6 billion in stockholders’ equity.