Brazil to sell 30-year debt by reopening 2041 bond

Brazil's Treasury said on Friday that it plans to sell $500 million of dollar-denominated 30-year debt, reopening an existing bond. The bonds carry a 5.625 percent coupon and mature in January 2041. The sale will be managed by Barclays Capital and Bank of America Merrill Lynch and is targeted at investors in the United States and Europe, the government said.
The government said it is also considering selling the bonds to investors in Asia. The sale comes after the government said earlier this year that it plans to sell bonds to international investors to showcase the country's strong economic fundamentals at a time of global economic turbulence and the possibility of a world-wide recession. A worsening debt crisis in Europe has heightened concern that defaults will saddle banks with losses, limiting credit for Latin America companies. Brazil is rated investment grade by all three of the major ratings agencies.