Brazil plans to sell $1.5 billion of dollar bonds due in 2025, creating a new benchmark security in international markets, and to buy back notes maturing in as little as four years.

The debt will yield 1.8 percentage points more than similar-maturity U.S. Treasuries, according to a person familiar with the matter who asked not to be identified because terms aren't set. Proceeds will be used to repurchase as much as $12.6 billion of securities maturing from 2017 to 2030. Banco Bradesco SA, Deutsche Bank AG, and HSBC Holdings Plc are managing the sale, which may take place as soon as today.

Brazil joins emerging-market issuers, from Mexico's Comision Federal de Electricidad to Russia's OAO GMK Norilsk Nickel, in selling dollar debt after U.S. lawmakers agreed last week on a deal to end a 16-day government shutdown and extend the nation's borrowing authority until next year. Brazilian construction firm OAS SA and iron-ore processor Samarco Mineracao SA have issued a total of $1.1 billion of notes since the accord, after a three-week drought in offerings. Sao Paulo-based meatpacker JBS SA sold $1 billion of seven-year securities today at 7.75 percent today.