Movida issues local notes

Movida issues local notes

Debenture Debt Capital Markets Brazil

Brazil's Movida has led a rush of debenture deals in the local market, raising BRL900m ($234m) to pay off debt and buy more rental vehicles, according to the capital markets association Anbima. Movida Participações earned BRL700m from a three-part bond sale led by Itaú BBA. The car rental company issued BRL284m in eight-year notes at 205bp over the DI interbank lending rate, along with BRL250m in three-year notes at 125bp over the DI and BRL166m in five-year notes at 160bp over the DI, according

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