Brazilian Mid-Cap Bank Readies Bond

Banco Panamericano is preparing to sell a 3-year dollar bond, and will begin a roadshow today in Lisbon that will visit Geneva, Zurich, Miami and London, before finishing up in New York October 16. A banker on the deal says size will be disclosed next week. Brazilian banks of this size, a group which includes Cruzeiro do Sul and BicBanco generally sell bonds between $100m-$250m in volume. Bradesco, Espirito Santo and Itau are managing the sale. Panamericano is rated Ba2. Last month Cruzeiro do Sul became the first issuer in the sector since the crisis, with sales in June and September.