MG Closes Tax Receivables Securitization

MG Closes Tax Receivables Securitization

Brazil Bonds Structured Finance

Minas Gerais Participacoes (MGI), a holding company controlled by the state government of Minas Gerais, has closed the sale of BRL316m ($155m) in domestic bonds, according to the CVM. The tax-receivable securitization came in under a BRL400m target, though clinched an interest rate inside of a pre-set limit. The 2017 bond pays the DI+3.25%, inside of a 3.5% limit that had been set in May. The bonds are backed by a pool of back taxes owed to the state, which have been renegotiated with debtors in

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