Brazil will return to the euro debt market with a multi-tranche bond sale after more than a decade, the National Treasury said, as it seeks to raise funds from international investors.

The issuance will include maturities in 2030, 2033 and 2036, with proceeds received upfront and repaid over time with interest in euros, O Globo reported.

The deal will be arranged by BBVA, BNP Paribas, Bank of America and UBS, following investor meetings held this week. The Treasury said the transaction forms part of its debt management strategy and aims to broaden funding sources across currencies and markets. 

“The operation is aligned with the National Treasury's strategy and aims to build an efficient sovereign yield curve in euros, providing a benchmark for other domestic issuers,” it said.

Funds raised will be used to refinance federal debt, replacing existing obligations. The move also seeks to establish a reference curve in euros that could support overseas issuance by Brazilian companies.

The return to Europe comes after a period without such operations, as authorities assess demand and pricing conditions in global markets.