Algar issues local notes

Algar issues local notes

Debt Capital Markets Corporate & Sovereign Strategy Debenture Project & Infrastructure Finance Telecoms Brazil

Brazil's Algar Telecom has raised BRL350 million ($87.5 million) from the sale of five-year debentures in the local market, according to the capital markets association Anbima.BB Investimentos, the investment banking banking division of Banco do Brasil, priced the five-year notes at 0.7% over the DI interbank lending rate, according to Anbima.In February, when XP Investimentos led a two-part deal for the Uberlândia-based telecom, Algar placed BRL250 million in seven-year notes at DI plus 0.9% an

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