Federative Republic of Brazil

  • 02 Dec 2005
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Rating: Ba3/BB-/BB-
Amount: $500m (fungible with two issues totalling $2bn first launched 12 January 2004)
Maturity: 20 January 2034
Issue price: 99.325
Coupon: 8.25%
Spread at launch: 362.5bp over the 3.375% February 2031 UST
Launch date: Tuesday 29 November
Payment date: 30 November
Joint books: Barclays Capital, Merrill Lynch

Market appraisal:

 "...this deal was well done. It was a small reopening and we saw a lot of demand from Asia so it had no discernable problems."

"...it was expected. They are now 75% done for 2006 financing requirements. There was a bit of a concern that it came after Venezuela's $3bn local deal and some thought that we could see a lot of selling of Venezuelan debt the day of Brazil's pricing, but that was not the case."

  • 02 Dec 2005

All International Bonds

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 JPMorgan 92.59 388 8.96%
2 Citi 85.30 278 8.25%
3 BofA Securities 63.15 265 6.11%
4 Barclays 58.01 223 5.61%
5 Deutsche Bank 55.74 184 5.39%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 BNP Paribas 60.87 123 14.06%
2 Credit Agricole CIB 28.59 93 6.60%
3 Santander 25.41 90 5.87%
4 JPMorgan 23.88 61 5.52%
5 UniCredit 21.51 103 4.97%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $bn No of issues Share %
  • Last updated
  • Today
1 Goldman Sachs 2.07 11 10.42%
2 BofA Securities 1.40 6 7.01%
3 Citi 1.37 7 6.87%
4 Morgan Stanley 1.36 6 6.85%
5 JPMorgan 1.31 7 6.59%