While Waiting for Moody’s Upgrade Brazil Sells Bonds Overseas

    Arno Augustin

    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    Your email address will not be published.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

    Hugo Chavez

    Brazil’s Offer to Mediate in Venezuela-Colombia Conflict Vetoed by Chavez

    Venezuelan President Hugo Chavez rejected on Friday a Brazilian proposal for a joint border ...

    Parque Radical, in Rio, built for the Olympics and open to the public

    Brazil and Rio Betting on the Year That Will Be Here to Stay: 2016

    The New Year celebrations in Rio de Janeiro, Brazil, should draw more than two ...

    Brazilian Congress

    How Brazil Found a Way to Rearrange the Budget Mandated by the Constitution

    Promulgated in 1988, Brazil’s most recent constitution made significant advances in revenue sharing. The ...

    Weak Dollar Helps Brazilian Retail Sales Grow 7%

    Retail sales in Brazil were up 7.42% in April, compared with April, 2005. In ...

    Congressman Raul Jungmann from Brazil

    Congressman Warns about Brazil’s Isolation If Honduras Election Not Recognized

    Brazilian congressman Raul Jungmann, the only representative from Brazil to be part of an ...

    Brazil’s Petrobras Has Big Plans to Take on the World

    Brazilian oil giant Petrobras expands investments and seeks joint venture in the US. Nestor ...

    Brazil's Chevrolet

    Best Month Ever for GM in 84 Years. The Dateline Is Brazil

    In Brazil General Motors car sales broke a record in June thanks to continued ...

    Brazilian Economy is Winning for Marta in Sí£o Paulo

    We’ve not heard much from Erundina (PSB) in the media recently. Probably because she’s ...

    Brazilian journalist Elvira Lobato

    Evangelical Media Empire in Brazil Goes to Court to Intimidate Press

    International human rights organization Article 19 has strongly condemned the wave of civil defamation ...

    Guarani Indian children in Mato Grosso do Sul, Brazil

    Brazilian Indian Women Raped While Waiting to Get Land Back

    Two old Indian women from the Guarani people, in Brazil, were raped by security ...