Brazilians Wrap Up Debenture Sales (1)

Brazilians Wrap Up Debenture Sales (1)


Brazilian issuers have this week wrapped up debenture issues tight to initial pricing expectations. Toll-road operator Ecorodovias has priced a 3-tranche BRL600m deal. A BRL460m 2013 pays DI+1.5%, versus a maximum targeted spread of 2.0% over. The other 2 pieces were both BRL70m 2015s paying 8.75%, according to the CVM. Proceeds from the issuance will be used to pay down BRL407m in promissory notes and to capitalize Ecopistas, the company unit that manages and operates the Ayrton Senna-Carvalho

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