Panamericano Quashes BVA Bond

Panamericano Quashes BVA Bond

Bonds Structured Finance Brazil M&A

Fallout from Banco Panamericano’s regulatory troubles has forced Banco BVA to postpone a 2013 bond it had begun marketing last week, according to investors. Concerns over the troubled mid-sized Brazilian bank are casting a bad light over the entire sector. BCP Securities and UBS had been managing the B2 rated deal, expected by the market at under $500m. Last week, Panamericano announced it would receive a BRL2.5bn emergency capital injection by its controlling shareholder, Grupo Silvio Santos, f

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