Brazil wins over investors in record Brady exchange

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Brazil wins over investors in record Brady exchange

August 11, 2000 12:00 AM

The Federative Republic of Brazil yesterday (Thursday) demonstrated the extent to which market sentiment has turned around in favour of the sovereign this year, when it issued a $5.157bn 40 year non-call 15 global exchange bond — the biggest ever voluntary exchange issue, the longest-dated non-investment grade sovereign deal and the largest non-Brady emerging market bond.

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