Brazil Ties Up Tender

Brazil Ties Up Tender

Brazil Bonds

Brazil has set the buyback terms for a liability management operation, it says, finalizing the process it started Wednesday when it issued $3.2bn in 2025 bonds. The sovereign has decided to place $1.7bn in new 2025s with holders agreeing to exchange $1.61bn in eight series of off-the-run dollar bonds due 2017-2030. The sovereign is also paying $500m cash to tendering holders who elected not to receive the new 2025. The remaining $1.05bn – which includes funds raised in a $50m Asian market greens

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