Fras-le sizes local debt deal

Fras-le sizes local debt deal

Debenture Capital Markets Debt Fixed Income Brazil Rule 476

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

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