Brazil Courts European Investors in London Non-Deal Roadshow

Overview

• Brazil’s Treasury is holding information-only meetings in London with European investors in a non-deal roadshow that presents its debt strategy and recent economic and institutional reforms.
• Treasury officials said the meetings do not constitute an offer to sell securities and include a legal disclaimer that any sale would require proper registration in relevant jurisdictions.
• Finance Minister Dario Durigan has signaled a return to external markets in 2026 with a sequence that starts in dollars, then moves to euros and likely yuan, citing strong investor appetite for Brazil.
• O Globo, citing Bloomberg, reports that BBVA, BNP Paribas, BofA Securities and UBS are organizing fixed-income investor meetings with Treasury leaders Daniel Leal and Helano Dias, and that a euro bond could follow if market conditions allow.
• A euro issuance would be Brazil’s first since 2014, and it could help set a reference point for local companies that borrow in euros while broadening the government’s funding base beyond the dollar.