December 10, 2012
BR Properties has raised BRL500m ($240m) in Brazil’s domestic bond market,
BR Properties has raised BRL500m ($240m) in Brazil’s domestic bond market, it says. The real estate manager’s 2014 debenture pays DI+0.64%, landing inside of DI+0.71% expectations. Proceeds will go to repay debt. Banco do Brasil, Bradesco, BTG Pactual and HSBC managed the sale, done under the rule 476 restricted format. The deal follows a BRL600m July transaction in the broader rule 400 market, including a 2017 tranche paying the DI+1.08% and an inflation-linked 2019 at 5.85%.