Rumo schedules local debt deal

Rumo schedules local debt deal

Debenture Debt Capital Markets Corporate & Sovereign Strategy Brazil

Brazil's Rumo has outlined a local debt sale, looking to raise BRL500m ($135m) in 10-year debentures. The new notes will likely price at 50bp over the IPCA consumer price index, the logistics company said in a securities filing. Rumo did not say which banks it has hired to lead the sale. S&P Global assigned a brAA+ rating to the upcoming debt sale and also upgraded Rumo's dollar-denominated 2025 notes to BB- from B+. Rumo sold $500m in seven-year bonds with a 5.875% coupon in January last

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