XP to issue CRIs for new HQ

XP to issue CRIs for new HQ

Debt Debenture Credit Ratings Fitch Ratings Capital Markets Brazil Asset Management

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

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