Brazil to become regular borrower in China, treasury official says

The debut is expected before the end of the year and is small enough that the government is not relying on the proceeds, with external debt at four per cent of the federal stock.

“Given our size, it is much more qualitative than quantitative for now,” he said. “It is obviously a welcome resource, and it tends to be cheap. But it is much more about unlocking new investors.”

What the treasury wants is a price, because selling Brazilian companies to Chinese investors is harder without a sovereign curve to borrow against, and Brazil has never had one in yuan.