Rumo rolls over debt with new SLBs

Rumo rolls over debt with new SLBs

Corporate & Sovereign Strategy Bonds Debt Fixed Income Brazil Sustainability Bonds Sustainability-Linked ESG Capital Markets Railroads

Brazilian railroad operator Rumo sold $500 million worth of 10-year sustainability-linked bonds on Wednesday to fund the buyback of notes that mature in 2025, a source involved in the deal told LatinFinance. The new 2031 notes carried a coupon of 4.2% and priced at 99.591 to yield 4.25%, according to the source. Rumo had opened the deal with the initial price talk in the high-4% area and set guidance at 4.5%, plus or minus 12.5 basis points, the source added.  Itaú BBA, Morgan Stanley and Santan

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