Ecovias Upsizes Infra Debentures

Ecovias Upsizes Infra Debentures

Brazil Bonds

Concessionaria Ecovias dos Imigrantes has raised BRL881m ($438m) from its domestic bond sale, upsizing from the planned BRL750m. The Ecorodovias-owned road operator's two inflation-linked tranches qualify for investor tax exemptions under the Brazilian government's infrastructure debenture legislation. A BRL200m 2019 tranche pays 3.80%, according to a prospectus. A BRL681m 2024 tranche pays 4.28% and amortizes in equal annual installments from 2014. The interest rate on the first tranche is said

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