Cyrela sells debentures to raise cash

Cyrela sells debentures to raise cash

Corporate & Sovereign Strategy Debenture Debt Latin America South America Brazil Rule 476

Brazilian real estate developer Cyrela Commercial Properties (CCP) said Thursday that it raised BRL300 million ($52.9 million) from the sale of debentures and will use the proceeds to add to its cash holdings. CCP issued the non-convertible debentures in two series with tenors of three and five years after receiving board approval to sell the notes on March 3, according to a securities filing. CCP did not provide the pricing information or say which banks coordinated the deal. In December 2019, 

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