Localiza trims local debt deal

Localiza trims local debt deal

Debenture Corporate & Sovereign Strategy Debt Capital Markets Rule 476 Brazil

Brazil's Localiza has sold BRL1bn ($253m) in seven-year debentures after saying in March that it could issue up to BRL1.3bn in the local debt market. BTG Pactual led the sale under Rule 476 and priced the seven-year notes at 107.25% of the DI interbank lending rate, according to the local capital markets association Anbima. Localiza Fleet, the company's commercial vehicle division, sold BRL400m in six-year debentures at 110.4% of the DI in December last year. Localiza itself sold BRL1bn in deb

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