By Rogerio Jelmayer
SAO PAULO--Brazil's state-run Banco do Brasil (BDORY, BBAS3.BR), Latin America's biggest bank by assets, is preparing a Japanese Yen-denominated bonds issue, as part of the bank's strategy to diversify its bondholder's investor basis and funding.
The bank hired BB Securities, Citigroup, J.P. Morgan, Mizuho and MUMS, a joint venture between Mitsubishi and Morgan Stanley Securities Co. Ltd to check Japanese investors' appetite for the bonds issue, said a person close to the plans, who declined to be named.
The banks have yet to decide the size or timetable of the bonds issue. A bank's press official decline to comment.
The latest international bond issue by Banco do Brasil took place in July, when it raised 700 million euros ($950 million) from its euro-denominated bonds issue. The five-year bonds carried an annual yield of 3.875%.
In September of 2012, the bank raised the equivalent of $320 million in an issue denominated in yen, the first by the bank denominated in Japanese currency, due in three years and with an annual interest rate of 1.8%.
Write to Rogerio Jelmayer at firstname.lastname@example.org
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(END) Dow Jones Newswires
October 07, 2013 10:25 ET (14:25 GMT)Copyright (c) 2013 Dow Jones & Company, Inc.
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