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UPDATE 1-Brazil may issue foreign debt to aid local companies
November 9, 2012 / 5:00 PM / 5 years ago

UPDATE 1-Brazil may issue foreign debt to aid local companies

BRASILIA, Nov 9 (Reuters) - Brazil may issue foreign debt this year to help improve conditions for local companies trying to raise money overseas, Treasury Secretary Arno Augustin said on Friday.

He did not provide details on the possible issuance.

“We try to facilitate fund-raising in foreign currency by Brazilian companies,” Augustin told journalists after a seminar on electricity in Brasilia.

Brazil secured its cheapest borrowing cost ever in September after selling $1.35 billion of dollar-denominated, 10-year global bonds with a spread of 110 basis points over comparable U.S. Treasury debt.

In the same month, Deputy Treasury Secretary Paulo Valle said Brazil planned to launch 30-year, dollar-denominated global bonds “at some point” to create a new long-dated benchmark for Brazilian companies trying to raise funds in foreign currency.

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