Mills Closes Debentures

Mills Estruturas e Servicos de Engenharia has finalized the sale of BRL270m ($133m) in Brazil’s domestic bond market, according to Anbima. The engineering firm offered a 2017 BRL161m tranche paying the DI+0.88%, coming in under a DI+1.0% ceiling, and a 2020 BRL109m inflation-linked tranche paying 5.50%, coming in under a 5.90% ceiling. The first amortizes in equal parts in the final two years and the second in equal parts in each of the final three. Mills plans to use proceeds to finance investments, repay debt and for working capital. Itau managed the transaction, done under the rule 476 restricted format.