October 9, 2020
Brazilian department store chain Havan raised BRL500 million ($89.5 million) in the local debt market this week as it abandoned plans to sell shares in an initial public offering (IPO) on the B3 stock exchange in São Paulo.
The Santa Catarina-based retailer issued BRL300 million worth of five-year debentures with Santander as the lead coordinator and BRL200 million in three-year notes with Bradesco BBI, according to the local capital markets association Anbima.
The 2025 debentures priced at the
Brazilian department store sells $90 mln worth of debentures as it walks away from an IPO