Road Operator Prices First Widely-Marketed Infrastructure Debenture

Road Operator Prices First Widely-Marketed Infrastructure Debenture

Brazil Bonds

Brazil's AutoBan has priced a BRL1.1bn ($539m) domestic bond that includes a tranche qualifying as aninfrastructure debenture, becoming the first widely-marketed deal to take advantage of the legislation allowing tax exemptions to investors, according to sources following the sale. The toll road operator owned by Companhia de Concessoes Rodoviarias (CCR) has tightened pricing from initial expectations and upsized the 2017 debenture from BRL950m. A BRL965m tranche pays 109% of the DI, inside of a

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