Brazil sets final guidance on tap of 4.25% 2025 bond
NEW YORK, Sept 3 (IFR) - The Federative Republic of Brazil has set final guidance on the planned reopening of its 4.25% 2025 US dollar-denominated Global 2025 bond, according to market sources.
The sovereign has set guidance of 150bp area (+/-3bp) over US Treasuries for the tap, tight to initial price thoughts of 160bp area.
Brazil, 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 Paul Kilby)
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