Brasília - The Federal Treasury announced yesterday (28) that it had acquired US$ 1 billion through the sale of bonds denominated Global 2015. The operation was headed by two banks: Citigroup Global Markets Inc. and JP Morgan Securities Inc. The asking price was 99.829% of par, offering a 7.90% rate of return to investors.

The financial settlement of the operation is scheduled for March 7, and interest payments will be made on September 7 and March 7 of each year until the bonds are due, on March 7, 2015. The bonds were issued to bolster the country's international reserves, with an eye towards the amortization of foreign debt, but the resources may also be used by the Central Bank for currency market interventions.

It was determined last year that the country would acquire US$ 6 billion to add to its reserves. So far bonds have been issued in yens, euros, and dollars, totaling approximately US$ 4.5 billion.

Translation: David Silberstein