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NEW YORK, Sept 3 (IFR) - The Federative Republic of Brazil has set initial price thoughts of 160bp area over US Treasuries on a reopening of its 4.25% US dollar-denominated Global 2025 bond.
The sovereign, rated Baa2/BBB-/BBB, currently has US$3.5bn outstanding on the note.
BTG Pactual, Citigroup and Morgan Stanley are the lead managers on the transaction, which is expected to launch and price later on Wednesday. (Reporting by Davide Scigliuzzo; Editing by Natalie Harrison)