Arnold & Porter Advises Brazil on Two Global Bond Issuances Totaling US$2.25 Billion

"Arnold & Porter advised the Federative Republic of Brazil on a US$2.25 billion offering that closed on November 14, 2025, comprising US$1.5 billion 5.500% Global Bonds due 2033 and US$750 million 6.625% Global Bonds due 2035, both listed on the London Stock Exchange. Net proceeds will repay federal public debt; proceeds from the 2033 sustainable bonds will be virtually allocated to eligible green and social expenditures."

Arnold & Porter advised the Federative Republic of Brazil on its recent US$2.25 billion offer and sale of global bonds, which closed on November 14, 2025. The transaction comprised two separate bond issues: US$1.5 billion of 5.500% Global Bonds due in 2033 and US$750 million of 6.625% Global Bonds due in 2035. Both series were listed on the London Stock Exchange and closed on November 14, 2025. Brazil intends to use the net proceeds of the sale of both bond issues for repayment of outstanding federal public debt. With respect to the 2033 bonds, which were issued under Brazil’s Sovereign Sustainable Bond Framework, an amount equal to the net proceeds of that series will be allocated, through virtual allocation, to eligible green and/or social expenditures. Arnold & Porter regularly advises Brazil on its financial transactions and debt offerings, including its US$2.75 billion offering in June 2025. Arnold & Porter represented the Federative Republic of Brazil with a team composed by: Whitney Debevoise (partner), Greg Harrington (partner), Carlos Pelaez (counsel) and Valentina Garzon (senior associate). David Sausen (partner) and Lauren Olaya (associate) provided tax advice. Mateus Maia de Souza and Bruno Woicik, visiting attorneys from Brazil, also assisted the team with aspects of the deal.

Arnold & Porter Advises Brazil on Two Global Bond Issuances Totaling US$2.25 Billion

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