Localiza books debt sale

Localiza books debt sale

Debenture Corporate & Sovereign Strategy Capital Markets Debt Bonds Brazil

Brazil's Localiza Rent a Car has outlined a BRL1.3bn ($340m) debt deal in the local market, two months after it sold BRL1.82bn in new shares. The car rental company said it plans to sell the seven-year debentures on April 15 under Brazil's Rule 476. Localiza will use the money to redeem three series of debentures and add to its cash position. It did not name the bookrunners on the deal or say how it expects the notes to price. S&P Global gave the proposed debentures a brAAA rating on the loc

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