March 12, 2019 |
Brazil's Restoque said it intends to issue up to BRL450m ($117m) in debentures in the local market to add to working capital.
The clothing company plans to divide the issue into two parts, with three-year notes pricing as high as 230bp over the DI interbank lending rate and four-year notes pricing at up to 245bp over the DI.
Fitch gave the upcoming notes a A-(bra) rating on the local scale, saying Restoque will likely increase its earnings and lower its refinancing risks in 2019.
Brazilian clothing company aims to raise $117m from the sale of three- and four-year notes