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ITAU |
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BANCO ITAU, a Brazilian financial institution, and Lojas Americanas, a Brazilian retailer, will create a new financial unit that will provide credit cards accepted at Lojas Americanas and Americanas Express stores, pending Central Bank approval. BANCO ITAU, a Brazilian bank, said it agreed to create a company with Companhia Brasileira de Distribuicao Pao de Acucar (CBD), a Brazilian grocery store operator, under which Banco Itau will provide credit card and other services at CBD's 555 stores. BANCO ITAU, Brazil's second-largest private bank, issued a US$100 million bond and another $150 million bond maturing in 2004 and 2008, respectively, to raise funds for cash flow and to finance Brazilian foreign trade. |
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