While Waiting for Moody’s Upgrade Brazil Sells Bonds Overseas

Arno AugustinTaking advantage of the lowest borrowing costs since October 2007, the Brazilian government, in the coming weeks, plans to sell bonds in international markets, Brazil’s Treasury Secretary Arno Augustin said.

“We will have a positive benchmark for Brazilian companies,” Arno Augustin said Friday in Brasília. “This will mean a sale in the coming weeks because the market sees the country in a positive way when it comes to Brazilian bonds.”

Latin America’s largest economy is planning to tap international credit markets after the extra yield investors demand to own its debt rather than US Treasuries fell to a 2 1/2-year low of 1.72 percentage points on April 4, according to JPMorgan Chase & Co. data. The gap was at 1.81 percentage points Friday.

Brazil expects to have its debt rating increased from its Baa3 rank by Moody’s Investors Service and BBB- by Standard & Poor’s, Augustin said.

Latin American borrowers have sold US$ 22 billion of debt in international markets this year, more than doubling the 9.3 billion of issuance from the year-earlier period, according to data compiled by Bloomberg.

Brazil last sold international debt in September, issuing 1.3 billion of 5.625% bonds due in 2041.

Mercopress

Tags:

  • Show Comments (0)

Your email address will not be published. Required fields are marked *

comment *

  • name *

  • email *

  • website *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Ads

You May Also Like

Despite Being Illegal 1/3 of All Pregnancies End in Abortion in Brazil

In Brazil, the criminalization of abortion does not reduce the number of instances of ...

European Delegation in Brazil Deals with Biofuel and Beef Ban

Twelve European Members of Parliament are currently in Brazil to assess livestock and beef ...

Brazil Spurned by Hollywood

Brazil’s Cidade de Deus was shunned because it did not fit into the make-believe ...

Brazil: Gentrification Creeps Up on São Paulo

One of the few agreeable features of São Paulo is that it is a ...

Brazil: Lula’s PT Splits

The creators of the new Socialism and Liberty Party, a dissidence from the government’s ...

FIFA Says Yes to Brazil’s Bid to Host 2014 World Cup

FIFA, the International Football Federation has recommended Brazil to host the World Cup in ...

Brazil’s Eletrobrí¡s Makes US$ 507 Million, a 261% Rise

Brazil's state-owned Eletrobrás Group, which operates in the field of power generation and supply, ...

Leader of Scale Model Market in Brazil Goes International

Brazilian company Adhemir Fogassa Maquetes, which currently has an 80% share of the scale ...

A Town That’s a Sanctuary

Legend says Salvador has 365 churches, one for every day of the year. Sometimes ...

Brazil Blames Crisis for Slowdown in Chicken Exports

Brazilian exports of chicken should end the year at between 3.6 million and 3.7 ...