Arnold & Porter Advises Brazil on Landmark €5B Global Bond Offering, Largest Ever and First Euro Issuance Since 2014

Arnold & Porter advised the Federative Republic of Brazil on its landmark €5 billion global bond offering, which closed on April 23, 2026.

The transaction, the largest international bond issuance in Brazil’s history, also marks the country’s return to the euro market, with its first euro-denominated bond offering since 2014.

The offering comprised three tranches: €2 billion of 4.000% Global Bonds due 2030, €1.5 billion of 4.875% Global Bonds due 2033, and €1.5 billion of 5.500% Global Bonds due 2036. All three series were listed on the London Stock Exchange and admitted to trading on its International Securities Market.

Arnold & Porter regularly advises Brazil on its sovereign financings, including its US$4.5 billion bond offering in February 2026, its US$2.25 billion bond offering in December 2025, and its US$2.75 billion bond offering in June 2025.

The team was led by partner Greg Harrington, counsel Carlos Pelaez, senior associate Mateo Morris, and associate Remila Jasharllari.

*Bruno Woicik, a visiting attorney from Brazil, also assisted the team. Mr. Woicik is admitted to practice law only in Brazil and is not engaged in the practice of law in any U.S. jurisdiction.