Stone plans debentures

Stone plans debentures

Debt Capital Markets Brazil Debenture

Brazil's Stone Pagamentos said it plans to issue up to BRL400m ($104m) in debentures to add to working capital and fund investments.

The three-year notes will bear an interest rate of 101.4% of the DI interbank lending rate, parent company StoneCo said in a securities filing. Stone will back the new notes with accounts receivable from credit card issuers, it added.

Stone went public in a $1.22bn IPO on the Nasdaq exchange in October last year. Some of its shareholders earned some $870m from a follow-on offering earlier this year.

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