Brazil begins marketing January 2045 bond at UST+200bp area
LONDON, July 23 (IFR) - The Republic of Brazil, rated Baa2/BBB-/BBB, has opened books on a new benchmark-sized US dollar January 2045 bond in the area of 200bp over US Treasuries.
The SEC-registered note will be priced later today, with Bank of America Merrill Lynch, Deutsche Bank and Itau BBA acting as lead managers.
The new deal will go towards financing a buyback of eight of the sovereign's bonds, as well for general government purposes. (Reporting by Sudip Roy; editing by Philip Wright)