The Brazilian government raised 5 billion euros on Wednesday (Apr. 15) in a bond issuance on the European market, marking the country’s return to the segment after more than ten years. The transaction was led by the National Treasury and was announced by Finance Minister Dario Durigan.

According to the minister, the issuance was divided into three maturities: four-, seven- and ten-year terms. The minister provided details of the operation during an official visit to Washington, D.C., in the United States, where he is taking part in meetings of the International Monetary Fund (IMF) and the World Bank.

Higher-than-expected demand

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According to the minister, demand for the bonds exceeded government expectations, indicating strong interest from international investors.

“We achieved historic fundraising,” said Durigan. “We have successfully returned to the European market and plan to explore new markets by the end of the year.”

According to estimates presented by international financial institutions, the issuance was structured into three tranches: 2 billion euros in bonds maturing in 2030, 1.5 billion euros maturing in 2033, and 1.5 billion euros maturing in 2036.

The National Treasury will subsequently provide details such as interest rates and spreads. The Brazilian government’s last euro-denominated bond issuance was in 2014.

Debt strategy

The transaction is part of Brazil’s strategy to manage public debt and expand its presence in different markets and currencies.

According to the Treasury, the issuance also aims to establish a benchmark for euro-denominated bonds, which could facilitate future fundraising by Brazilian companies abroad.

The proceeds will be used primarily to refinance federal public debt, replacing existing obligations.