Brazil's BNDES May Sell Up to $1.7 Billion of Domestic Bonds, Valor Says

Brazil’s state development bank plans to sell as much as 3 billion reais ($1.7 billion) of local bonds as soon as November, Valor Economico reported, without saying where it got the information.

The bank, known as BNDES, will also talk to European investors regarding a potential sale of bonds abroad, the Sao Paulo-based newspaper said. The bank is seeking to raise funds because it won’t receive more loans from the country’s treasury next year, Valor said.

BNDES declined to comment on the article, according to Valor.

To contact the reporter on this story: Laura Price at lprice3@bloomberg.net

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