Latest Financial Transactions From The Region

Feb 1, 2004

Brazil Gets $1.5 billion as C-Bond Breaks Par

Brazil sold $1.5 billion in 30-year bonds, priced to yield 8.75%. Deutsche Bank and Citigroup managed the sale. This was the sovereign's first 30-year bond since 2000. Brazil's central bank last year said it plans to raise $4 billion in international bond sales this year. In 2003, it issued four bonds for a total of $4.53 billion, excluding exchange offers to retire Brady bonds. Markets are bracing for a possible offer to retire the C-bond, the country's highly liquid Brady bond, after it broke par in January for the first time since its launch in April 1994. The government issued $6.54 billion-worth of the 8% bonds that mature in 2014. According to independent research firm CreditSights, Brazil could save as much as $1.03 billion on interest payments by retiring $4 billion in C bonds and issuing cheaper, uncollateralized debt. Brazil has the right to call them at par by April...

To continue reading please take a free trial, subscribe or login below.


Already have an account?

Subscribe

Subscribe now for unlimited access to all current and archive news, data and market analysis. 

Subscribe

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial

Upcoming Events

Poll

Which area will be most profitable for investment banks in LatAm in 2016?

Vote    




Popular Searches