Reuters: US Dollar Report: UPDATE 1-Brazil's Treasury plans new 30-year global bond

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UPDATE 1-Brazil's Treasury plans new 30-year global bond Sep 12th 2012, 15:27 Wed Sep 12, 2012 11:27am EDT * Brazil to return to international capital markets this year * Treasury aims to have liquid 10-year, 30-year benchmarks * Brazil may reopen just-issued 2023 bonds, but not now SAO PAULO, Sept 12 (Reuters) - Brazil plans to issue 30-year, dollar-denominated global bonds "at some point" to create a new long-dated benchmark, the Treasury's undersecretary for public debt said on Wed nesday. In a seminar in Sao Paulo, Paulo Valle confirmed the government aims to return to international capital markets in 2012. Last week, the Treasury created a new 10-year benchmark by selling $1.35 billion in bonds due in 2023. Brazil secured its cheapest borrowing cost ever in last week's deal, taking advantage of strong appetite for emerging-market assets. By issuing l i quid benchmark bonds at lower yields, the government aims to improve financing conditions for local corporate issuers. The maturity of the new bonds to be issued this year will depend on market demand, Valle said. "Our main goal now is to provide liquidity to the curve. Our priority is (maturities of) 10 and 30 years," he said, noting that Brazil's current 30-year benchmark bonds mature in 2041 . "At some point we'll issue a new 30-year bond." The Treasury also plans to reopen its recently issued 2023 bond, Valle said, increasing its size to between $2 billion and $3 billion. However, he said that would not happen in the short-term. In Brasilia, central bank President Alexandre Tombini said the low yields obtained by Brazil during last week's sale of bonds reflect foreign investors' confidence in the Brazilian economy. Link this Share this Digg this Email Reprints

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