Banco Bradesco to Sell Benchmark Dollar Bond Overseas

Banco Bradesco to Sell Benchmark Dollar Bond Overseas

March 15 (Bloomberg) -- Banco Bradesco SA, Brazil’s second- largest lender by market value, plans to sell benchmark dollar bonds in its second overseas debt issue since September, said a person familiar with the transaction.

Goldman Sachs Group Inc., Banco Bradesco and Banco Votorantim will arrange the five-year bond offering, said the person, who declined to be identified because terms aren’t set. A benchmark sale typically means at least $500 million in size. The Osasco, Brazil-based bank sold $750 million of 10-year notes in September.

Banco Bradesco is returning to international bond markets after the company’s borrowing costs tumbled. The yield on Bradesco’s 6.75 percent bonds due in 2019 sank 44 basis points since September to 5.94 percent, the lowest since the securities were issued, according to data compiled by Bloomberg.

Brazil Raises Reserve Requirements as Crisis Eases

Brazil Raises Reserve Requirements as Crisis Eases

Feb. 24 (Bloomberg) -- Brazil’s central bank raised reserve requirements for banks, demanding they deposit an additional 71 billion reais ($39 billion), as policy makers end rules designed to increase liquidity during the global credit crunch.

“There is no more need for these measures,” central bank President Henrique Meirelles told reporters in Brasilia today. “The liquidity conditions are already adequate.”

Banco do Brasil Is in Talks to Buy U.S. Bank, CEO Tells Valor - Bloomberg.com

Banco do Brasil Is in Talks to Buy U.S. Bank, CEO Tells Valor

Dec. 17 (Bloomberg) -- Banco do Brasil SA is in talks to buy the U.S. assets of a foreign bank in distress, Valor Economico reported, citing an interview with Chief Executive Officer Aldemir Bendine.

While Bendine declined to identify the bank, he said it has 14 branches in the U.S., the Sao Paulo-based newspaper reported.

Banco do Brasil is planning also to expand through acquisitions or by opening its own operations in Peru, Colombia, Paraguay, Uruguay, Angola and Mozambique, Valor reported the CEO as saying. In Europe, the bank aims to boost its business through a Vienna-based subsidiary, he said.

Banco do Brasil announced talks to buy a stake in Argentina’s Banco Patagonia earlier this week.

To contact the reporter responsible for this story: Camila Fontana in Sao Paulo at cfontana@bloomberg.net
Last Updated: December 17, 2009 04:47 EST"