NEW YORK, Oct 23 (IFR) - The Federative Republic of Brazil has tightened guidance on a benchmark-sized global bond due in January 2025 to Treasuries plus 180bp-185bp as new cash books climbed in excess of US$6 billion, sources familiar with the deal said on Wednesday.
Initial price thoughts had been set at Treasuries plus 200bp earlier in the day.
The sovereign, rated Baa2/BBB/BBB, has also opened a tender offer on eight outstanding global bonds worth a combined US$12.59bn.
Bradesco BBI, Deutsche Bank and HSBC are the bookrunners on the SEC-Registered transaction. (Reporting by Paul Kilby; Editing by Natalie Harrison)