National Treasury publishes Public Debt issuance schedule for the first quarter of 2026

The National Treasury has published the issuance schedule for the first quarter of 2026. Compared to the issuance schedule for the fourth quarter of 2025, changes were made to the offering structure and to the benchmark maturities of some federal government securities, with the aim of promoting greater efficiency in public debt management as well as in the government securities market.

LTN will now have six reference maturities: 6, 12, 24, 36, 48, and 72 months, with maturities on 10/01/2026, 04/01/2027, 04/01/2028, 07/01/2029, 01/01/2030, and 01/01/2032, respectively. The offerings will take place on an alternating weekly basis: in one week, the 6-, 24-, and 48-month benchmarks will be offered, and in the following week, the 12-, 36-, and 72-month benchmarks.

NTN-F will maintain the 7- and 10-year benchmarks, with the addition of a 5-year reference, forming weekly offerings with maturities on 01/01/2031, 01/01/2033, and 01/01/2037, respectively.

NTN-B will continue to be offered weekly, with the securities organized into three maturity groups. The short-term group consists of 3- and 5-year NTN-B, with maturities on 05/15/2029 and 05/15/2031; the intermediate group includes 7- and 10-year NTN-B, with maturities on 05/15/2033 and 05/15/2037; and the long-term group comprises 15-, 20-, 25-, and 35-year NTN-B, with maturities on 08/15/2040, 05/15/2045, 08/15/2050, and 08/15/2060, respectively. In each auction, one security from each group will be offered, with weekly alternation within each group, following this pattern: (i) 3, 7, and 15 years; (ii) 5, 10, and 20 years; (iii) 3, 7, and 25 years; and (iv) 5, 10, and 35 years.

LFT, in turn, will no longer be offered with a 3-year maturity, with only the 6-year benchmark remaining, maturing on 03/01/2032, made available weekly alongside the NTN-B offerings.

The Public Debt issuance schedule is available at https://thot-arquivos.tesouro.gov.br/comunicado/3148.