Last week the Banco do Brasil raised US$500 million on foreign money markets, issuing dollar bonds that will yield 7.95% per year. Around 237 investors in Asia, Europe, the United States and Brazil acquired the bonds. According to JosŽ Maria Rabelo, vice president for International Business at the bank, the successful emission will permit Banco do Brasil to make new loans in the areas of agriculture, consumer goods and exports. Rabelo added that the issue was a demonstration of confidence in Brazil. "It reflects market perception of risk - Brazil risk and Banco do Brasil risk. And the perception is positive. Market demand was superior to our emission. That is a very good sign," he declared.
Market confident in Brazil