Brazil follows Mexico with jumbo bond

Brazil follows Mexico with jumbo bond

Brazil Bonds

Brazil took advantage of market conditions with a $3bn 2028 bond sale on Tuesday, in line with a liability management to claim almost $12bn in outstanding bonds. Leads - Deutsche Bank, Itau BBA and Santander - started talk at 250bp over US Treasuries, before tightening yield at guidance to between 235bp and 240bp over Treasuries, DCM bankers said. The trio launched on the tighter end and priced the 10-year paper with a 4.625% coupon to yield 4.675%, or a reoffer price of 99.603. U

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