Ipiranga Agro issues first notes in local market

Ipiranga Agro issues first notes in local market

Debenture Debt Capital Markets Fixed Income Brazil Rule 476

Brazil's Ipiranga Agroindustrial has issued its first infrastructure debentures in the local market, raising BRL200 million ($50 million) in a deal arranged by Itaú BBA, according to the capital markets association Anbima. The sugar and ethanol producer, based in the state of São Paulo, sold the seven-year notes at 2.61% over the IPCA consumer price index, according to Anbima. The notes were issued under Brazil's Rule 476 and were tax exempt for foreign investors and local retail investors. They

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