September 20, 2013
Locamerica is preparing to raise BRL225m ($103m) in Brazil’s domestic bond
Locamerica is preparing to raise BRL225m ($103m) in Brazil’s domestic bond market, it says. The rental car agency plans 3.5 and 7-year tranches, representing a change from the single BRL100m tranche indicated earlier this year. The BRL125m 2017 pays the DI+1.70%, and the BRL100m 2020 pays DI+1.75% and begins annual amortization installments in 2016. The issuer does not respond to a request for additional comment on the transaction, to be done under the rule 476 restricted format.