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Health Ministry Bribes, USD Issuance Priced Overnight

BRAZIL
  • A member of Brazil's Health Ministry asked for a bribe when negotiating with Davati Medical Supply the acquisition of 400m doses of the AstraZeneca vaccine against Covid-19, Brazilian newspaper Folha de S. Paulo reports, citing a representative from the company.
    • Following the news, Roberto Ferreira Dias was removed from the position of director of Health Ministry's Department of Logistics, according to an ordinance published in official gazette.
  • Brazil's government joined the push by emerging-market borrowers to lock in low dollar borrowing costs with a two-part bond sale. Brazil relies primarily on its local market for financing and dollar debt only makes up around 4.5% of the country's total outstanding borrowing.
  • Priced overnight:
    • $1.5b 10Y Fixed at 98.948 to Yield 3.875%
    • $750m Tap of BRAZIL 4.75% 01/14/50 at 97.333

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