Movida sets up debenture sale

Movida sets up debenture sale

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

Brazilian car rental company Movida Locação de Veículos said it received board approval to sell BRL700 million ($125 million) in debentures to pay off debt and finance investments. Movida plans to issue up to BRL400 million in 2028 notes and BRL300 million in 2025 notes in the two-part deal, although it could extend the maturity on the four-year notes to 2028, it said in a securities filing on Thursday. The company said it will use the proceeds from the first series to strengthen liquidity, repa

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