Brazil's Treasury is slated to the first part of a two-day auction of 8 million inflation-pegged securities known as NTN-Bs in the capital Brasilia today.
NTN-Bs are indexed to the IPCA, the benchmark consumer price index in Brazil.
The Treasury will offer up to three million NTN-Bs, with payment to be made in cash.
The remaining five million will be offered Wednesday, with payment to be made in other securities.
The NTN-Bs on offer will come in the following maturities: May 15, 2007; Aug 15, 2008; May 15, 2009; Aug 15 2010, May 15, 2015; Aug 15, 2024 and May 15, 2045.
If NTN-B lots are sold in their entirety, another 15% will be offered later in the day.
Settlement will be on Wednesday, February 15th.