Arnold & Porter Advises Brazil on Two Bond Issuances Totaling US$2.25 Billion
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 offering was comprised of 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 of bonds were listed on the London Stock Exchange.
Brazil intends to use the net proceeds of the sale of both bond issues for repayment of outstanding federal public debt of Brazil. However, with respect to the 2033 bonds, which were issued under Brazil’s Sovereign Sustainable Bond Framework, an amount equal to the net proceeds of the sale of the 2033 bonds will be allocated, through virtual allocation, to eligible green and/or social expenditures.
The firm regularly advises Brazil on its financial transactions and debt offerings, including its US$2.75 billion offering in June 2025, among other recent offerings.
The Arnold & Porter team was led by partners Whitney Debevoise and Greg Harrington, counsel Carlos Pelaez, and senior associate Valentina Garzon. Partner David Sausen and associate Lauren Olaya provided tax advice.
*Mateus Maia de Souza and Bruno Woicik, visiting attorneys from Brazil, also assisted the team with aspects of the deal. Mr. Maia and Mr. Woicik are admitted to practice law only in Brazil. They are not engaged in the practice of law in any U.S. jurisdiction.
