EcoRodovias Tightens Domestic Bond

EcoRodovias Tightens Domestic Bond

Brazil Bonds

EcoRodovias has concluded bookbuilding for an BRL800m ($394m) domestic bond sale, according to investors following the process, clinching below-target interest rates on each of the three tranches. The road operator’s 2018 tranche, expected at BRL240m, will pay the DI+0.79%, coming tight to a DI+1.25% ceiling. An inflation-linked 2019, expected at BRL160m, pays 5.0%, tight to a 6.50% limit. An inflation-linked 2022, expected at BRL400m, pays 5.35%, inside of a 6.85% limit. The issuer is heard not

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