May 30, 2019 |
Brazil's Movida said it could up to BRL700m ($176m) from a three-part debenture sale in the local market, raising money to pay off debt and buy more rental cars.
The São Paulo-based car rental company said it will issue BRL250m in three-year notes at 125bp over the DI interbank lending rate and at least BRL150m in eight-year notes at as much as 210bp over the DI. It will sell up to another BRL300m in five-year notes at 160bp over the DI.
Movida did not say which banks it hired to lead the debt
Brazilian car rental company outlines its second debenture deal of the year