High-Trend sets up bonds for Rio street lighting PPP

High-Trend sets up bonds for Rio street lighting PPP

Bonds Debt Fixed Income Project & Infrastructure Finance Capital Markets Brazil United States

Rio Smart Lighting, a concessionaire affiliated with Puerto Rico's High-Trend International, plans to issue up to BRL925 million ($166 million) in 11-year sustainability-linked bonds (SLBs) this month to fund a street lighting public-private partnership (PPP) in the city of Rio de Janeiro. Rio Smart started calling investors in Tuesday with Goldman Sachs as the sole bookrunner, according to press reports.  The concessionaire will use the proceeds to finance part of a 20-year street lighting PPP

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