Itaú Unibanco (NYSE: ITUB) sells BRL 3B in perpetual subordinated AT1 bills
Rhea-AI Filing Summary
Itaú Unibanco Holding S.A. issued Perpetual Subordinated Financial Bills totaling BRL 3 billion to professional investors. These instruments are perpetual, meaning they have no fixed maturity, and the company may repurchase them starting in 2031, subject to prior approval from the Central Bank of Brazil.
The Financial Bills qualify as Additional Tier 1 capital under Central Bank Resolutions No. 122 and No. 5,007. Based on the capital base as of March 31, 2026, the issuance is estimated to increase Itaú Unibanco’s Tier 1 capital ratio by 19 basis points, modestly strengthening its regulatory capital position.
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Insights
Itaú Unibanco adds BRL 3B of AT1 capital with modest ratio uplift.
Itaú Unibanco has issued BRL 3 billion in Perpetual Subordinated Financial Bills qualifying as Additional Tier 1 capital. These instruments are perpetual and loss-absorbing, sitting below senior debt and above equity in the capital stack.
The bills can be repurchased from 2031 onward, but only with prior authorization from the Central Bank of Brazil, underscoring regulatory oversight. The bank estimates a 19 basis-point increase in its Tier 1 capital ratio, calculated on the capital base as of March 31, 2026, indicating a measured strengthening rather than a transformational change.
Additional Tier 1 issuance is a common tool for large banks to fine-tune capital ratios. Future disclosures in company filings may provide more detail on coupon terms, trigger events, and any subsequent redemptions after 2031, which together shape the long-term cost and flexibility of this capital layer.
Key Figures
AT1 issuance size: BRL 3 billion
Tier 1 ratio impact: 19 basis points
First call date: 2031
+1 more
4 metrics
AT1 issuance size
BRL 3 billion
Perpetual Subordinated Financial Bills issued to professional investors
Tier 1 ratio impact
19 basis points
Estimated uplift to Tier 1 capital ratio from issuance
First call date
2031
Earliest year Financial Bills may be repurchased with approval
Capital base date
March 31, 2026
Date of capital base used to calculate 19 bps impact
Key Terms
Perpetual Subordinated Financial Bills, Additional Tier 1, Tier 1 capital ratio, basis points, +1 more
5 terms
Perpetual Subordinated Financial Bills financial
"it has issued Perpetual Subordinated Financial Bills (“Financial Bills”) in the total amount of BRL 3 billion"
Additional Tier 1 financial
"the Financial Bills will compose the Additional Tier 1 of the Company’s Total Capital"
Tier 1 capital ratio financial
"with an estimated impact of 19 basis points on its Tier 1 capital ratio"
A tier 1 capital ratio measures a bank’s core financial strength by comparing its most reliable capital — such as shareholder equity and retained profits — to its assets after adjusting for how risky those assets are. Think of it as the firm’s shock-absorbing cushion relative to the danger of its exposures; higher ratios mean the bank is better positioned to absorb losses, meet regulations and continue lending, which matters to investors assessing safety and long-term returns.
basis points financial
"with an estimated impact of 19 basis points on its Tier 1 capital ratio"
Basis points are a way to measure small changes in interest rates or percentages, where one basis point equals 0.01%. For example, if a loan's interest rate increases by 50 basis points, it's gone up by 0.50%. They help people understand tiny differences in rates that can add up over time, making financial comparisons clearer.
professional investors financial
"in negotiations with professional investors"
Professional investors are individuals or organizations whose business is managing money for others or for large pools of capital, such as fund managers, pension funds, insurance companies, and registered investment advisors. They matter to other investors because they trade in larger sizes, gain access to specialized information and deals, and can move markets or set price expectations—think of them as seasoned pilots handling big aircraft compared with casual drivers in small cars.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Itaú Unibanco (ITUB) announce in this Form 6-K?
Itaú Unibanco announced the issuance of Perpetual Subordinated Financial Bills totaling BRL 3 billion. These instruments were placed with professional investors and are structured to qualify as Additional Tier 1 capital under Brazilian Central Bank rules.
How much capital did Itaú Unibanco (ITUB) raise with the new Financial Bills?
The bank issued Perpetual Subordinated Financial Bills in a total amount of BRL 3 billion. This issuance is designed to bolster Itaú Unibanco’s regulatory capital, specifically contributing to its Additional Tier 1 component within Total Capital.
When can Itaú Unibanco repurchase the Perpetual Subordinated Financial Bills?
Itaú Unibanco may repurchase the Perpetual Subordinated Financial Bills starting in 2031. Any repurchase is subject to prior authorization from the Central Bank of Brazil, reflecting regulatory control over redemption of capital instruments.
How will the BRL 3 billion issuance affect Itaú Unibanco’s capital ratios?
The issuance is expected to increase Itaú Unibanco’s Tier 1 capital ratio by 19 basis points. This estimate is calculated on the bank’s capital base as of March 31, 2026, modestly strengthening its overall regulatory capital position.
What is the regulatory classification of Itaú Unibanco’s new Financial Bills?
Under Central Bank of Brazil Resolutions No. 122 and No. 5,007, the new Financial Bills will compose the Additional Tier 1 portion of Itaú Unibanco’s Total Capital. This classification means they count toward high-quality loss-absorbing regulatory capital.
Who can invest in Itaú Unibanco’s Perpetual Subordinated Financial Bills?
The issuance was carried out in negotiations with professional investors. This indicates the Perpetual Subordinated Financial Bills are targeted at institutional or sophisticated market participants rather than the general retail investor base.
| UNITED STATES | |||||||||||
| SECURITIES AND EXCHANGE COMMISSION | |||||||||||
| Washington, D.C. 20549 | |||||||||||
| FORM 6-K | |||||||||||
| Report of Foreign Issuer Pursuant to Rule 13a-16 or 15d-16 of the Securities Exchange Act of 1934 | |||||||||||
| For the month of June, 2026 | |||||||||||
| Comission File Number: 001-15276 | |||||||||||
| Itaú Unibanco Holding S.A. | |||||||||||
| (Exact name of registrant as specified in its charter) | |||||||||||
| Itaú Unibanco Holding S.A. | |||||||||||
| (Translation of Registrant’s Name into English) | |||||||||||
| Praça Alfredo Egydio de Souza Aranha, 100 - Torre Conceição | |||||||||||
| CEP 04344-902 São Paulo, SP, Brazil (Address of principal executive office) | |||||||||||
| Indicate by check mark whether the registrant files or will file annual reports under cover Form 20-F or Form 40-F. | |||||||||||
| Form 20-F ☒ | Form 40-F ☐ | ||||||||||
| Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): | |||||||||||
| Yes ☐ | No ☒ | ||||||||||
| Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): | |||||||||||
| Yes ☐ | No ☒ | ||||||||||
| Indicate by check mark whether by furnishing the information contained in this Form, the registrant is also thereby furnishing information to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934. | |||||||||||
| Yes ☐ | No ☒ | ||||||||||
| If “Yes” is marked, indicate below the file number assigned to the registrant in connection with Rule 12g3-2(b): | |||||||||||
| 82– __________________ | |||||||||||
EXHIBIT INDEX
| 99.1 | ITAÚ UNIBANCO - Announcement to the Market: Perpetual Subordinated Financial Bills | ||||||||||
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| Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. | ||||||||||||||
| Date: June 10, 2026. | ||||||||||||||
Itaú Unibanco Holding S.A. By: /s/ Gustavo Lopes Rodrigues Name: Gustavo Lopes Rodrigues Title: Investor Relations Officer. | ||||||||||||||
Announcement to the Market Perpetual Subordinated Financial Bills Itaú Unibanco Holding S.A. (“Company”) announces to the market that it has issued Perpetual Subordinated Financial Bills (“Financial Bills”) in the total amount of BRL 3 billion, in negotiations with professional investors. The Financial Bills are perpetual in nature and may be repurchased as from 2031, subject to the prior authorization of the Central Bank of Brazil. In accordance with Resolutions No. 122 and No. 5.007 of the Central Bank of Brazil, the Financial Bills will compose the Additional Tier 1 of the Company’s Total Capital with an estimated impact of 19 basis points1 on its Tier 1 capital ratio. São Paulo (SP), June 10, 2026. Gustavo Lopes Rodrigues Investor Relations Officer 1 Calculated on the capital base of March 31, 2026.