June 23, 2020 / 1:27 PM / 9 days ago

Brazil central bank outlines private sector bond-buying details

BRASILIA, June 23 (Reuters) - Brazil’s central bank on Tuesday outlined details of its plans to buy private-sector bonds on the secondary market, a program aimed at tackling potential dysfunction, volatility and lack of liquidity in the corporate bond market.

Assets with a credit rating equivalent to “BB-“ or higher, which are non-convertible into shares and have a maturity of at least 12 months, will be eligible for purchase, the central bank said in a statement on its website. (Reporting by Jamie McGeever; editing by Jonathan Oatis)

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