BR Properties preps perp repurchase

BR Properties preps perp repurchase

Bonds Debt Capital Markets Corporate & Sovereign Strategy Debenture Fixed Income Brazil

Brazil's BR Properties said it plans to issue BRL500m ($129m) in local bonds and use the proceeds to help pay off $185m in perpetual notes issued in 2010. The new seven-year notes will pay 1.7% over the DI interbank lending rate, BR Properties said in a securities filing. The DI stood at 6.4% on December 6, according to the B3 stock exchange in São Paulo. The real estate developer issued $200m in perpetual bonds at 9% in October 2010 with Credit Suisse and Itaú BBA as the underwriters.  The buyb

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