Panamericano Slams Brazil Mid-Cap Banks

Panamericano Slams Brazil Mid-Cap Banks

Bonds Structured Finance Brazil Equity

Bonds and shares of Brazil’s Banco Panamericano fell in the day following the announcement of a BRL2.5bn injection from its controlling shareholder to cover losses coming from accounting irregularities and of the replacement of management. The wider implications for the Brazilian mid-sized banking sector, though, still remained to be seen. Panamericano shares dropped 30% to BRL4.77 Wednesday, while its peers and the Bovespa index saw only small losses, with the bourse closing down 0.6% for the d

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