Downgraded Brazil bucks trend with wider than dollars euro trade

brazil football
By Oliver West
27 Mar 2014

A ratings downgrade proved a surprise benefit for Brazil as the sovereign made its expected return to the euro market four days after Standard & Poor’s dropped it to BBB-.

Though Brazil paid more for its euro seven year than it would have done for a dollar deal, which DCM bankers said bucked a recent trend. But with a book of €2.7bn it showed it retains clout in capital markets.

The size of the book allowed Brazil, which ...

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