Gafisa Completes Alphaville Debenture

Gafisa Completes Alphaville Debenture

Brazil Bonds

Gafisa’s Tenda subsidiary has finalized the placement of BRL250m ($111m) in domestic bonds, according to Anbima. The 2015 debenture pays 120% of the DI. The Brazilian builder is raising funds to buy 20% of its Alphaville unit, a stake it needs to complete the agreement signed last week to sell 70% of the high-end residential developer to private equity investors. Gafisa agreed earlier this month to sell the controlling bit of Alphaville to Blackstone Real Estate Advisors and Patria Investimentos

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