BRASILIA, Dec. 22 (Xinhua) -- As of Dec. 15, 2009, Brazil made a second reopening of its 10-year benchmark, the Global 2019N, in the amount of 525 million U.S. dollars, the National Treasury said Tuesday.

    Five hundred million dollars were issued in U.S. and European markets, while 25 million dollars were channeled to the Asian market.

    This tap, jointly managed by Goldman Sachs and Morgan Stanley, is in line with the Annual Borrowing Plan 2009. It seeks to improve the external debt profile and aims at consolidating the yield curve in dollars by maintaining benchmark points in the external market.

    At the end of the operation, the stock of the Global 2019N in the market reached 2.3 billion dollars.

    The bond was sold at 108.204 percent of its face value, yielding 4.75 percent per year. The semi-annual coupon interest remained at 5.875 percent per year, to be paid every Jan. 15 and July 15 up to final maturity on Jan.15, 2019.

    The operation had the participation of over 100 accounts of diverse profiles, reaching a demand several times larger than the offer.

    In this third offering of the Global 2019N, the bond was issued with a spread of 113.9 basis points over the equivalent bond of the U.S. Treasury 2, the smallest difference ever reached in external 10-year bond issuances by the country.

    It is worth mentioning that in the first issuance of the Global 2019N, in January 2009, the spread related to the equivalent treasury was of 370 basis points. During the first reopening in May, the spread was of 252 basis points.

    The yield of 4.75 percent per year achieved in the issuance corresponds to the lowest yield of a 10-year Brazilian bond and the lowest yield in the U.S. dollar market in Brazilian history.

Special Report:  Global Financial Crisis