By IANS,
Rio de Janeiro : Brazil said that it sold $750 million worth of dollar-denominated government bonds due January 2023 in European and US markets.
This was Brazil’s first issuance of dollar-denominated government bonds since September 2012, when the country made the last offers in international markets, reported Xinhua.
Barclays and Citigroup managed the transaction, the Brazilian Treasury Secretariat said.
It said that the offer could be extended to Asian markets, with an amount of up to $75 million, under the same conditions.
Issuances of bonds allow the government to borrow from foreign investors by promising to return the investment together with a certain yield within a predetermined time range.
Brazil’s sovereign credit ratings in international agencies have improved in the past
years. The country’s bonds in foreign currency are currently rated Baa2 at Moody’s and BBB at Fitch Ratings and Standard & Poor’s Ratings.