Triangulo Restarts Local Bond

Triangulo Restarts Local Bond

Brazil Bonds

Brazilian road operator Triangulo do Sol Auto-Estradas has initiated investor meetings as it restarts a domestic bond sale process paused in November. Bookbuilding for the 2-tranche BRL620m ($305m) transaction due 2020 should start February 6 and conclude by the end of February, according to a prospectus. A first tranche would pay DI plus up to 3.0% as originally planned, while an inflation-linked second tranche should offer up to 8.0%, an increase from the 7.5% ceiling the Atlantia Bertin unit

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