Brazil sets guidance of 5.90% (+/- 2.5bp) on long 30-year bond
By Paul Kilby
NEW YORK, July 21 (IFR) - Brazil set yield guidance of 5.90% (+/-2.5bp) on a long 30-year bond on Thursday after amassing an order book of around US$6bn, one of the banks managing the deal told IFR.
Bookrunners Deutsche Bank, Goldman Sachs and HSBC are expected to price the benchmark US dollar-denominated bond with a maturity of February 21 2047 on Thursday.
The South American country last came to the US dollar bond market in March when it sold a US$1.5bn 6% 2026 issue at 99.066 to yield 6.125%, or 419.6bp over US Treasuries.
Those bonds have been trading at 109.35-110.25, or at a mid-market yield of 4.76%, according to Thomson Reuters data.
Issuer ratings are Ba2/BB/BB with negative outlook from all three major rating agencies. (Reporting By Paul Kilby; editing by Shankar Ramakrishnan)
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