Brazil Sells $2 Billion ESG Bond in Pledge to Protect Amazon

Brazil, which is home to 60% of the Amazon forest, sold its first-ever sustainable bond, marking a long-awaited deal intended to support President Luiz Inacio Lula da Silva’s environmental and social agenda.

Latin America’s largest economy priced $2 billion in bonds due in 2031 to yield 6.5%, compared the initial price talk of about 6.8%, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. Investors put orders for almost $6 billion, said the person.

The proceeds of the notes will be allocated to green and social ...