Latvia's Parex Bank delays three-year bond due to market volatility

By Reshmi Basu

New York, April 20 - Parex Bank will delay an offering of three-year bonds due to market volatility, according to market sources.

The deal has not been cancelled, said a source. Instead, the issuer will wait for conditions to stabilize. A roadshow for the debut issue wrapped up on Friday.

Price talk for the three-year deal was set at midswaps plus 175 basis points.

JP Morgan and Credit Suisse First Boston are managing the sale.

Parex Bank is the largest bank in Latvia.

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