Banco do Brasil Plans Yen Issuance

Banco do Brasil is preparing a yen-denominated bond, according to sources familiar with the matter. The bank has selected Bank of America Merrill Lynch, Banco do Brasil, JPMorgan, Mizuho and SMBC Nikko for the “euro yen” deal that would represent a departure from LatAm issuers’ preference for the Japanese retail-focused Samurai sales of recent years. The timing and details are unclear, but the sale is heard to be as soon as late July at perhaps $500m-equivalent for up to 5 years. The Brazilian bank issued $24m-equivalent in yen-denominated bonds in 1995, according to Dealogic.