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Brazil's Banespa to start roadshow for $300 million perpetual bonds next week
By Reshmi Basu
New York, Sept. 1 - Banco do Estado de Sao Paulo SA (Banespa) plans to start a roadshow next week for a $300 million offering of non-cumulative perpetual tier 1 bonds (Ba1), according to a market source.
The roadshow will run from Monday through Sept. 12.
The fixed-rate bonds will be non-callable for five years with no step-up.
Merrill Lynch is the manager for the Rule 144A/Regulation S transaction.
Sao Paulo, Brazil-based Banespa provides a range of consumer and commercial banking services.
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