Brazil's Banco Schahin pulls $100 million three-year notes

By Aaron Hochman-Zimmerman

New York, June 28 - Banco Schahin postponed its offer of $100 million senior unsecured notes due 2010 (Ba3), according to a market source.

Price talk had been set in the 7½% area.

Merrill Lynch & Co. was the bookrunner for the Rule 144A and Regulation S deal.

The Sao Paulo, Brazil-based commercial bank intended to use the proceeds for general corporate purposes.

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