Cogna opens books for next debt sale

Cogna opens books for next debt sale

Debenture Debt Capital Markets Brazil

Brazilian private education company Cogna Educação said it plans to sell BRL500 million ($87.5 million) in debentures in the local market, raising money to provide capital for its subsidiaries. Cogna intends to price the new three-year notes at the DI interbank lending rate plus 2.95%, backed by a corporate guarantee from its affiliates Saber and Anhanguera Educacional, it said in a securities filing on Friday.. It also said it will use the proceeds to add to its cash position and provide workin

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