BNDESPar Halts Bond Issue

The BNDESPar unit of Brazilian development bank BNDES has suspended for up to 60 days its issue of BRL1.5bn in 2010 debentures. It has decided to wait due to the volatility in the capital markets, according a BNDES official. The notes rated AAA on a national scale are part of a BRL6bn program. The bank had not yet indicated the rate it expects to pay. Banco do Brasil is managing the operation, with Bradesco and Caixa Economica Federal co-managers.