Iochpe outlines debt sale

Iochpe outlines debt sale

Debenture Bonds Capital Markets Debt Corporate & Sovereign Strategy Rule 476 Brazil

Brazil's Iochpe-Maxion said it will issue up to BRL450m ($121m) in debentures on January 16. The auto parts company plans to sell five-year notes at up to 125bp over the DI interbank lending rate and seven-year notes at 150bp over the DI. The DI stood at 6.4% on January 11. S&P Global Ratings gave the upcoming debentures a brAAA rating on the local scale, saying the issue will allow Iochpe to cut its financing costs and lower debt levels to two times EBITDA in 2019. Iochpe said it will use t

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