Brazil Raises $4.5 Billion in Sovereign Bonds with Strong International Demand
Brazil raises $4.5 billion through sovereign bonds in a highly demanded international issuance, reflecting strong investor confidence.
- • Brazil's National Treasury raised $4.5 billion via sovereign bonds in early 2026.
- • The new 10-year Global 2036 bond raised $3.5 billion at 6.4% interest.
- • The 30-year Global 2056 bond raised $1 billion with the lowest spread since 2014.
- • Demand for the bonds was 2.7 times the offered amount, totaling about $12 billion.
Key details
Brazil's National Treasury successfully raised $4.5 billion through its first sovereign bond issuance of 2026 in the international market, signaling robust investor confidence. The operation included a new 10-year bond, Global 2036, which secured $3.5 billion at an interest rate of 6.4% with a semiannual coupon of 6.25%, reflecting a slight increase from the previous 6.2% rate in November 2025. Additionally, Brazil reopened a 30-year bond, Global 2056, raising $1 billion at an interest rate of 7.3% with a 7.25% coupon, marking the lowest spread for a Brazilian 30-year bond since 2014 at 245 basis points above U.S. Treasury securities.
Investor demand was notably strong, reaching approximately $12 billion, almost 2.7 times the volume offered. The Treasury emphasized that this substantial oversubscription and relatively low spreads demonstrate international market confidence in Brazil's sovereign debt credibility. The funds from this issuance will be added to Brazil's international reserves on February 19, 2026.
The funds were raised through coordinated efforts by major banks, including HSBC, JP Morgan, Santander, and Sumitomo. This issuance follows previous operations in November 2025 and September 2025, showing improvements in cost and investor sentiment towards Brazilian debt in the global arena.
This article was translated and synthesized from Brazilian sources, providing English-speaking readers with local perspectives.
Source articles (2)
Source comparison
Spread of previous issuance
Sources report different spreads for the previous bond issuance in November.
agenciabrasil.ebc.com.br
"the spread was 220 basis points (2.2 percentage points) above U.S. Treasury securities, indicating the risk associated with Brazilian securities in the international market."
jornaldebrasilia.com.br
"the spread was 210.9 basis points above U.S. Treasury securities."
Why this matters: One source states the spread was 210.9 basis points in November, while the other mentions it as 220 basis points. This discrepancy affects the understanding of the changes in bond issuance conditions.
Interest rate of previous issuance
Sources report different interest rates for the previous bond issuance in September.
agenciabrasil.ebc.com.br
"This interest rate was slightly higher than the previous issuance in November, where the rate was 6.2%."
jornaldebrasilia.com.br
"In the previous issuance in September, the interest rate was 7.5% with a spread of 252.7 basis points."
Why this matters: One source claims the interest rate was 7.5% in September, while the other does not mention this detail, which could lead to confusion about the trend in interest rates.