Tupy picks banks, roadshows

Tupy picks banks, roadshows

Bonds

Brazilian autopart maker Tupy has mandated BB Securities, Bradesco, Citi and Morgan Stanley for a three-day roadshow ahead of possibly selling a $350m 2021 bond. The roadshow starts on Monday with meetings in London and Los Angeles, and follows with stops in Boston on Tuesday and New York on Wednesday. Fitch has assigned a BB rating to the proposed transaction to reflect “the sustainable way that Tupy has been increasing its cash flow from operations, with relatively stable margins, combined wit

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