Lojas Renner lines up local debt sale

Lojas Renner lines up local debt sale

Debenture Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Fixed Income Coronavirus Brazil Latin America

Lojas Renner said on Monday that its board of directors approved a debenture sale for BRL500 million ($95.6 million) in the local market. The Porto Alegre-based retailer will use the proceeds to maintain "minimum strategic cash flow," it said in a securities filing. The company announced on March 19 that it would close all its stores in Brazil, Argentina and Uruguay to help contain the spread of the coronavirus. It said on March 25 that it would not lay off employees without just cause "for an i

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