Brazil Taps Local-Currency 2022 Issue

Brazil Taps Local-Currency 2022 Issue

Brazil

Brazil reopened its 2022 global issue and sold a further 750 million reais ($346 million) of the local-currency denominated paper. The bonds, which carry a 12.50% coupon, were sold at 105.875 to yield 11.663%. Morgan Stanley and Goldman Sachs placed the bonds, which mature January 5, 2022. Brazil last tapped its 2022 real-denominated issue at the start of October when it sold $300 million worth to yield 12.47%. The bonds, which were first sold in September this year to yield 12.88%, are the long

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