Movida restarts debt sale

Movida restarts debt sale

Debenture Debt Capital Markets Fixed Income Rule 476 Brazil

Brazilian car rental company Movida Participações said it plans to sell up to BRL600 million ($107 million) in debentures in its next debt sale in the local market, raising money to improve liquidity and pay off debt. Movida will issue the new notes in two part, pricing a series of three-year debentures at the DI interbank lending rate plus 2.5% and another of five-year debentures at the DI plus 2.95%, it said in a securities filing on Wednesday. It did not say how many debentures it will sell i

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