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Brazil launches USD1.5bn 12-year bond at T+180bp

By Paul Kilby

Oct 23 (IFR) - Brazil on Wednesday launched a US$1.5 billion 12-year bond at Treasuries plus 180 basis points (bp).

The sovereign, rated Baa2/BBB/BBB, has also opened a tender offer on eight of its outstanding global bonds for a combined US$12.59 billion.

Sources familiar with the deal said earlier that cash books on the new trade had surpassed US$6 billion.

Bradesco BBI, Deutsche Bank and HSBC are the bookrunners on the SEC-registered transaction.