July 23, 2014 / 12:45 PM / 3 years ago

CORRECTED-UPDATE 1-Brazil to sell new 2045 global bond, buy back up to 8 issues

(Correct first paragraph to say Brazil is offering a new
30-year bond, not a 20-year bond)
    SAO PAULO/BRASILIA, July 23 (Reuters) - Brazil's Treasury is
offering on Wednesday a new 30-year global bond and buying back
as many as eight shorter-dated issues, in a bid to take
advantage of growing appetite for Brazilian assets and improve
the country's dollar-denominated yield curve.
    The Treasury said in a statement it has mandated banks to
sell a new global bond maturing in January 2045 and to buy back
issues maturing from 2024 to 2041.
    Bank of America Merrill Lynch, Deutsche Bank and Itau
 are handling the operation, which is expected to
price later on Wednesday, a source with direct knowledge of the
deal said. Initial price guidance for the sale of the new 2045
bond is around 200 basis points over comparable U.S. Treasuries,
the source added.
    Currently there are a combined $11.9 billion in notes
maturing in 2024, 2025, 2027, 2030, 2034, 2037 and 2041.
    
 Bond           Maturity        Coupon     Outstanding amount
                                (pct)          USD
 Global 2024    April 15, 2024   8.875     1,145,684,000.00
                                           
 Global 2024 B  April 15, 2024   8.875        95,037,000.00
                                           
 Global 2025    Feb 4, 2025      8.750     1,043,516,000.00
                                           
 Global 2027    May 15, 2027    10.125     1,396,058,000.00
                                           
 Global 2030    March 6, 2030   12.250       466,450,000.00
                                           
 Global 2034    Jan 20, 2034     8.250     1,956,412,000.00
                                           
 Global 2037    Jan 20, 2037     7.125     2,870,304,000.00
                                           
 Global 2041    Jan 7, 2041      5.625     2,925,000,000.00
                                           
    

 (Reporting by Guillermo Parra-Bernal and Luciana Otoni, writing
by Walter Brandimarte; Editing by W Simon and Paul Simao)

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