Brazilians Raise Dim Sum Bonds

Banco Bradesco and BTG Pactual have become the latest LatAm financial institutions to issue private placements in the offshore renminbi, or Dim Sum, bond market, according to sources familiar with the transactions. Banco Bradesco has raised CNH300m ($48m) in 2014 bonds, pricing at par with a 3.90% yield. BNP Paribas managed the sale. Meanwhile, BTG issued a smaller CNH107m ($16m) 2013 bond, pricing at par to yield 3.50%, with Standard Chartered as sole lead.