Localiza rolls out local notes

Localiza rolls out local notes

Debenture Debt Fixed Income Capital Markets Brazil Rule 400

Brazilian car rental company Localiza plans to sell at least BRL1 billion ($179 million) worth of debentures in the local market to add to its cash holdings, it said in a securities filing. Belo Horizonte-based Localiza also said it had authorized the bookrunners to start taking orders from investors and added that it could increase the size of the deal by 20% to BRL1.2 billion to meet demand. It did not, however, not name the banks on the deal or give an idea of how the new notes could price. S

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