Brazil’s state development bank, known as BNDES, is considering selling bonds abroad for the first time since 2011 to help finance its international lending program, President Luciano Coutinho said.
The Rio de Janeiro-based bank will make a decision on its sale plans this month, Coutinho said in an interview at Bloomberg headquarters in New York yesterday.
The lender is studying tapping international capital markets after Petroleo Brasileiro SA, also controlled by Brazil’s government, sold $11 billion of bonds earlier this week, a record for an emerging-market company. Yields on BNDES’s $1 billion of 5.5 percent securities due 2020 have fallen to 3.24 percent after reaching a nine-month high of 3.5 percent last month, according to data compiled by Bloomberg.
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