Books on the deal for New York and Europe were closed at 11 am EST and were said to be oversubscribed. Still, people familiar with the matter said the treasury has no intention of increasing the amount of the offer, despite the heavy demand.
Morgan Stanley and Goldman Sachs are joint bookrunners on the issue.
Brazil first issued the 2019 bond in January with a volume of $1.025 billion. The bond came with a coupon rate of 5.875% and a yield of 6.13%. In May, the treasury reopened the 2019 bond, raising an additional $750 million at an annual yield of 5.8%.
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