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Brazil raises $50mn selling bonds in Asian markets
May 11, 2013, 1:42 pm

The Brazilian government also announced its intention to make another issuance in December.[AP Images]

The Brazilian government also announced its intention to make another issuance in December [AP Images]

Brazil succeeded in selling $50 million worth of dollar-denominated government bonds in Asian markets on Friday, the Treasury Department announced.

The bonds sold are due on January 5, 2023, with a yield of 2.75 per cent a year.

The selling came one day after the Brazilian government raised $750 million selling bonds due 2023 in European and US markets.

It was the first issuance of global bonds of a total of $800 million in foreign currency since September 2012 when Brazil sold $1.35 billion worth of bonds ($100 million in Asian markets and $1.25 billion in European and US markets).

The Brazilian government also announced its intention to make another issuance in December.

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.

Source: Agencies