Brazil is tapping banks for advice on the nation’s first-ever sustainable bond sale, a long-awaited transaction that’s expected to hit markets by the end of the year.
(Bloomberg) — Brazil is tapping banks for advice on the nation’s first-ever sustainable bond sale, a long-awaited transaction that’s expected to hit markets by the end of the year.
The Treasury said Friday it will work with Banco Itau BBA, JPMorgan Chase & Co. and Banco Santander Brasil SA to sell the notes and revise its framework for debt that relates to environmental, social or governance goals.
Brazil — home to the majority of the Amazon rainforest — is expected to debut in global ESG debt markets following an investor roadshow in late August or early September, a person familiar with the matter said last month.
The terms of the sale, including exact timing and size, were still being discussed, said the person, who asked not to be identified because the discussions were private.
Earlier this year, Brazil sold $2.25 billion of dollar bonds due 2033, luring strong-enough investor demand to up-size the deal. That was the country’s first debt offering in global markets in about two years.
Brazil plans to keep monitoring debt-market conditions for potential issuances of traditional external debt, according to the statement.
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