Iochpe goes local with debt sale

Iochpe goes local with debt sale

Debenture Debt Capital Markets Rule 476 Brazil

Iochpe-Maxion has raised BRL1.45bn ($388m) from a two-part debenture sale in Brazil, according to the local capital markets association Anbima. The auto parts maker sold BRL1.11bn in seven-year notes and BRL339m in five-year notes.  Itáu BBA priced the seven-year notes at 95bp over the DI interbank lending rate and the five-year notes at 75bp over the DI. The DI stood at 6.4% on February 14. When Iochpe outlined the debentures deal in January, it said it planned to price the seven-year notes

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