Federative Republic of Brazil Completes SEC-Registered Offering of $1.5 Billion of Global Bonds

January 23, 2018

The Federative Republic of Brazil completed an SEC-registered offering of $1.5 billion of its 5.625% global bonds due 2047. The offering was a reopening of previously offered bonds of the same series, resulting in a total of $3 billion principal amount of the series outstanding. The bonds were issued at a price to the public of 100.352 percent of their principal amount. The bonds are listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF market of the Luxembourg Stock Exchange.

S&C represented HSBC Securities (USA) Inc., Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC, as the joint lead managers and joint bookrunners of the offering.

The S&C team for the transaction was led by Christopher Mann, along with Laura Duncan, Alejandra Alvarez Ucar and Laura Zapata-Kim. Eric Wang, Saul Brander and Jennifer Leaphart advised on tax matters. Tracey Russell advised on FINRA matters. Kirsten Rodger advised on U.K. and E.E.U. law matters.