3 de septiembre de 2014 / 18:08 / hace 3 años

CORRECTED-Brazil launches US$1bn tap of 2025 bond, orders close to US$5bn

(Corrects new total outstanding size to US$4.25bn)

NEW YORK, Sept 3 (IFR) - The Federative Republic of Brazil is set to raise US$1bn through a reopening of its 4.25% Global 2025 bond, after demand for the issue approached US$5bn, according to market sources.

The sovereign, rated Baa2/BBB-/BBB, launched the transaction at a final spread of 147bp over US Treasuries, the tight end of guidance of 150bp area (plus or minus 3bp) and inside initial price thoughts of 160bp area.

The reopening will bring the total outstanding size on the note to US$4.25bn.

BTG Pactual, Citigroup and Morgan Stanley are lead managers on the transaction, which is expected to price later on Wednesday. (Reporting by Davide Scigliuzzo; Editing by Paul Kilby)

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