BNDESPar Readies Debenture Tour

Brazil’s BNDESPar says it will hold a roadshow on November 24-30 to market its new debenture issue that could raise the investment arm of the BNDES between BRL1.00bn and BRL1.35bn. It plans to issue two series, one with a fixed interest rate due 2013 and the second with an interest rate pegged to the IPCA due 2015, says the bank. The rate will be determined during a bookbuilding process, set to begin December 14. Proceeds will go towards strengthening the bank’s capital base. Banco do Brasil is managing the sale.