Brazil Total Federal Debt Up 1.3% To BRL1.49 Tln In November

Brazil Total Federal Debt Up 1.3% To BRL1.49 Tln In November

BRASILIA (Dow Jones)--Under the impact of net debt issuance and interest accrual Brazil's total federal debt load rose by 1.3% to 1.49 trillion Brazilian reals ($837 billion) in November, the government reported Tuesday.

In a joint statement, Brazil's central bank and treasury said the country's domestic federal debt load denominated in reals rose 1.4% from October to BRL1.39 trillion.

The government reported the overall increase in domestic federal debt came alongside BRL7.92 billion in net debt issuance and BRL11.13 billion in interest accrual. -

Meanwhile, Brazil's outstanding federal debt overseas rose 0.4% from October to BRL102 billion.

Regarding the profile of federal domestic debt in November, treasury officials reported floating-rate debt fell to 37.39% of total domestic debt during the month from 37.66% in October.

At the same time, the share of fixed-rate debt rose to 32.47% from 31.23%.

The share of inflation-indexed bonds fell during the month of November to 28.21% of debt from 29.16%, while exchange-linked debt fell to 0.71% of the total from 0.72% the previous month.

Brazil's government has been attempting to lengthen its debt profile and reduce its exposure to interest-rate risk through increased sales of fixed-rate and inflation-indexed debt.

The government reported Tuesday that average maturity of domestic debt fell to 3.37 years in November from 3.42 years in October.

At the same time, however, the government said the volume of domestic debt maturing in the coming 12 months fell in November to 25.87% from 26.55%.

The average cost of debt coming due in the next 12 months fell to 10.86% annually from 11.15% annually.

The November federal debt figures released Tuesday represent a key element of consolidated public-sector debt figures scheduled for release next week.

Brazil posted net consolidated public sector debt in October of BRL1.33 trillion, equivalent to 44.8% of gross domestic product.

-By Gerald Jeffris, Dow Jones Newswires; (5561) 3335-0832, gerald.jeffris@dowjones.com"