New Issue: Brazil's Banco Panamericano sells $300 million 5½% five-year notes to yield 5 5/8%

By Christine Van Dusen

Atlanta, July 28 - Brazil's Banco Panamericano SA priced $300 million 5½% notes due Aug. 4, 2015 at 99.462 to yield 5 5/8%, or Treasuries plus 385.7 basis points, on Wednesday, a market source said.

Bradesco BBI, UBS and Banco Itau were the bookrunners for the Regulation S-only deal, which was whispered to yield 6%.

Banco Panamericano is a Sao Paulo-based bank.

Issuer:	Banco Panamericano SA
Amount:	$300 million
Maturity:	Aug. 4, 2015
Description:	Notes
Bookrunners:	Bradesco BBI, UBS, Banco Itau
Coupon:	5½%
Price:	99.462
Yield:	5 5/8%
Spread:	Treasuries plus 385.7 bps
Trade date:	July 28
Settlement date:	Aug. 4
Distribution:	Regulation S only
Rating:	Moody's: Ba2
Price talk:	Whispered at 6% yield

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