Parana Slashes Dollar Bond

Brazil’s Parana Banco is selling $50m in 2011 bonds, half of the originally planned $100m, says an executive close to the company. The deal is on a roadshow, and expected to price at the end of the month, says an official. Dresdner and Queluz Securities are running the B+ transaction. Last week, fellow mid-size Brazilian Bank Cruzeiro do Sul pulled a 2011 bond issue of around $100m due to market conditions.