Brazil baffles investors with R$ bond tap after tax rise
Just days after raising its IOF tax on foreign purchases of local financial instruments in order to curb the appreciation of the real, Brazil surprised investors and bankers by tapping its 2028 real-denominated bonds for an additional R$1.1bn ($650m). The tap marked the sovereign’s first real-denominated global issue since 2007.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts