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Brazil Treasury to Sell More Euro Bonds Due in 2015 [View All]

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shugah Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Jan-30-06 07:26 AM
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Brazil Treasury to Sell More Euro Bonds Due in 2015
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Brazil Treasury to Sell More Euro Bonds Due in 2015

Jan. 30 (Bloomberg) -- Brazil, the largest developing- nation debtor, plans to sell euro-denominated bonds due in 2015, the country's second international bond sale this month as it takes advantage of record-low borrowing costs.

The treasury didn't disclose the amount of bonds in the offering, according to an e-mailed statement. Brazil on Jan. 10 sold $1 billion of dollar-denominated bonds maturing in 2037 on international markets.

The government's borrowing costs have dropped to record lows as three years of economic expansion and surging exports bolster the nation's finances. Brazil has already raised half its international borrowing needs for this year and next.

``There has been an improvement in the country's fundamentals and a reduction in external vulnerability,'' said Flavio Farah, treasurer at WestLB AG in Sao Paulo. ``That's allowing the government to lengthen debt maturities at smaller premiums.''
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