October 1, 2021 |
Brazilian retailer Magazine Luiza, also known as Magalu, has set up the sale of BRL2 billion ($367 million) worth of debentures, just over two months after it earned BRL3.98 billion in a follow-on equity offering.
The São Paulo-based company plans to price the five-year notes at the DI interbank rate plus 1.25% in a deal open to only institutional investors under Rule 476, it said in a securities filing. It added that it will use the proceeds to "optimize cash flow."
Magalu used a share sale in
Brazilian retailer expects to issue $367 mln in five-year debentures after a share sale in July