Banco do Brasil Waits on Yen Bond

Banco do Brasil has opted to wait on a yen-denominated bond sale and revisit pricing efforts after the scheduled quarterly earnings report on August 14, according to sources familiar with the matter. Though the timing had been unclear, the sale had been heard aiming to price as early as last week, with 3 and 5-year tranches likely planned. The bank has selected Bank of America Merrill Lynch, Banco do Brasil, JPMorgan, Mizuho and SMBC Nikko for the so-called “euro-yen” deal, which would represent a departure from LatAm issuers’ preference for the Japanese Samurai sales of recent years. The Brazilian bank issued $24m-equivalent in yen-denominated bonds in 1995, according to Dealogic.