Brazil in $1bn bond sale

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The Independent Online
BRAZIL WILL this week tap the international capital markets for the first time in a year, selling at least $1bn of five-year bonds. The bond sale, expected on Thursday, is the latest sign that investors are beginning to return to emerging markets following the crisis sparked last summer by the Russian debt default. A rebound in the Brazilian currency, an oil price rally and a $41.5bn international rescue package have all helped restore confidence in the Brazilian economy, analysts said.

If Thursday goes well it could pave the way for the sale of up to $5bn of Brazilian bonds this year.

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