May 14, 2021
Brazilian asset management firm XP Investimentos has set up the sale of BRL500 million ($94.8 million) in real estate receivables certificates, or CRIs, to fund construction of a new headquarters in the state of São Paulo, according to a report from Fitch Ratings.
XP will sell 15-year debentures to the local securitization firm Isec Securitizadora to fund the deal, and Isec, in turn, will issue the CRIs at the IPCA consumer price index plus 5%, Fitch said.
XP will use the money to build Villa X
Brazilian asset management firm sets up a $95 mln deal with Isec to fund most of a $140 mln construction project