AutoBan Completes Debenture

AutoBan Completes Debenture

Brazil Bonds

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

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