June 11, 2020
Brazilian brake pads manufacturer Fras-le plans to sell BRL210 million ($42.7 million) in debentures in the local market to cover part of the acquisition costs for auto parts maker Nakata Automotiva.
The new seven-year notes are expected to price at the DI interbank lending rate plus 1.45%, Fras-le said in a securities filing on Tuesday. The company did not say which banks it has hired to arrange the deal under Brazil's Rule 476.
Fras-le announced in December last year that it agreed to buy São
Brazilian brake pad manufacturer sets up a $43 mln deal to cover part of the Nakata acquisition