The operation will be led by banks BBVA, BNP Paribas, Bank of America and UBS
The National Treasury announced this Tuesday (April 14, 2026) that it had started conversations with investors to issue bonds in euros. According to the statement, it would be the first issue after a decade of absence from the European market.
The National Treasury Secretariat said that, based on the interactions, the specific characteristics of the bonds will be defined, such as terms and initial price levels. Here are the full texts (PDF – 3 MB) and (PDF – 163 kB, in English).
“The initiative may be followed by an offer, depending on receptivity and market conditions. The operation is aligned with the National Treasury’s strategy and aims to build an efficient sovereign curve in reais, offering a reference for other domestic issuers”said the note.
The resumption of bond issuance in euros, in addition to the dollar, contributes to , according to the Treasury. The operation will be led by banks BBVA, BNP Paribas, Bank of America and UBS.
