Iochpe Prices Converts

Brazilian commercial and light vehicle parts producer Iochpe-Maxion has put a price on its BRL320m ($158m) domestic convertible bond sale, according to regulatory documents. The 2018 debenture pays up to 99% of the DI, inside a 100% limit. The notes are to be convertible at BRL30.30, or 33 shares per debenture, at any time at the holder’s discretion. The issuer’s shares closed at BRL23.11 Tuesday. Itau and Banco Fator managed. Iochpe-Maxion is rated A on a national scale. The transaction follows a BRL1.24bn 2022 private debenture sale.