Brazil times it right to clinch LM, benchmark at negligible premium

By Oliver West
24 Jul 2014

Latin America debt bankers praised Brazil for its “uncanny” knack for timing markets after the borrower became the latest Latin American borrower this year to raise 30 year money to buy back old bonds as the US Treasury long bond hit its tightest level for a year.

Only Mexico-based food group Bimbo — rated Baa2/BBB/BBB and considered by many investors as a US investment grade corporate — has secured a lower cost of funds for a 30 year trade from Latin America this year.

Colombia, Mexico, Pemex and Uruguay have all sold 30 year bonds ...

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