Fras-le approves latest debentures sale

Fras-le approves latest debentures sale

Capital Markets Debt Debenture Rule 476 Brazil Latin America Fixed Income

Brazilian auto parts manufacturer Fras-le on Thursday approved the sale of debentures worth BRL210 million ($39.5 million) to cover part of the acquisition costs for auto parts maker Nakata Automotiva and the second such issuance of debentures within a month. Fras-le said in a securities filing it expects the seven-year notes to price at the DI interbank lending rate plus 1.45% and will use the proceeds to pay for the acquisition price of Nakata Automotiva. The Caxias do Sul-based company approv

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