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Commentary & Deal Flow

MANDATE: Federative Republic of Brazil Inv Calls; SEC Registered € bmk 4yr, 7yr & 10yr Notes Offering May Follow

IGC European Market: Deal Flow - GeneralIGC European Market: Deal Flow - SSAEM LATM: Deal Flow - General

The Federative Republic of Brazil (country: Brazil) has announced investor calls for today.

A new multi-tranche SEC Registered EUR offering will follow, subject to market conditions. The offering will consist of 4-year, 7-year, and 10-year tenors. Each tranche will be of benchmark size, with an expected total deal size of approximately €3bn.

Execution may be as early as tomorrow (Wednesday).