Brazilian Completes Bond, Meets Convert Buyers

Brazilian Completes Bond, Meets Convert Buyers

Brazil Bonds

Brazilian commercial and light vehicle parts producer Iochpe-Maxion has finalized the sale of BRL1.24bn ($617m) in domestic bonds, according to Anbima, and was due to begin marketing a separate convertible bond sale at the end of last week. The completed 2022 bond pays the DI+3.25%, the limit it had set prior to the transaction, and amortizes in equal annual parts beginning in 2016. Proceeds are for repaying debt. Itau, Banco do Brasil and Banco Votorantim managed the transaction, done under the

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