Iochpe Plans Debentures

Iochpe Plans Debentures

Brazil Bonds

Brazilian commercial and light vehicle parts producer Iochpe-Maxion plans to raise BRL1.62bn ($827m) in domestic bonds, according to regulatory documents. It is seeking BRL320m through the sale of a widely distributed rule 400 convertible bond, and BRL1.3bn separately in the limited-distribution rule 476 market. The 2018 convertible debenture pays up to 100% of the DI, and would be convertible at BRL30.30, or 33 shares per debenture, at any time at the holder's discretion. The issuer's shares cl

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