Santander plots new fund in Brazil

Santander plots new fund in Brazil

Funds Project & Infrastructure Finance Debt Debenture Brazil Europe

The Brazilian subsidiary of the Spanish bank Santander is structuring a receivables fund for BRL300 million to BRL400 million ($75.5 million to $95.4 million), targeting infrastructure bonds for greenfield projects, sources told LatinFinance. The FIDC, as receivables funds in Brazil are known, will have the option of converting the debt into equity, Santander said in a filing with Brazil's securities regulator CVM.The fund will target project bonds and could launch in around two weeks, one sourc

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