Rumo places green bond benchmark

Rumo places green bond benchmark

Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Brazilian logistics company Rumo priced a benchmark-sized deal for green bonds on Tuesday, offering $500 million worth of new 7.5-year notes to yield 5.25%, according to sources involved in the deal. With Itaú BBA, Morgan Stanley and Santander as global coordinators, Rumo opened the initial price talk in the mid- to high-5% area, before it set guidance at 5.375%, plus or minus 12.5 basis points, and launched at 5.25%, the sources said. Bradesco BBI, BTG Pactual, Citigroup, Goldman Sachs and JPMo

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