Panamericano Sets Bond Price Target

Brazil’s Banco Panamericano has indicated yield guidance of 7.25%-7.50% as it takes orders for a 2012 bond during a roadshow set to end Friday. The Brazilian mid-tier bank is visiting Lisbon, Geneva, Zurich, Miami and London, before finishing up in New York. The exact size is to be disclosed later this week, a banker on the deal says. 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, which is rated Ba2.