BB Votorantim Highland infrastructure FIDC raises cash

BB Votorantim Highland infrastructure FIDC raises cash

Structured Finance Project & Infrastructure Finance

A BRL300m ($131m) securitization of infrastructure project debt using Brazil’s Fundo de Investimento em Diretos Creditorios (FIDC) format closed its first subscription period on December 30. Brazilian regulators approved the FIDC BB Votorantim Highland Infraestrutura on December 20, opening the way for investors to commit to the fund in six monthly subscription periods running to May 2014. 85% of the investments offered are 12-year senior instruments. Mezzanine notes with the same tenor make up

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