Brazil Returns To International Capital Markets

Brazil sold $500 million of its 2034 global bonds yesterday, Tuesday, to take advantage of record prices. The bonds will yield 8.311%. The sovereign last issued the bonds in May 2004 to yield 8.81% when it sold $500 million. It had originally offered $1.5 billion of the 30-year bond in January 2004 at 8.75%. The sale was managed by Merrill Lynch & Co and Barclays.