Unidas, Paranapanema Debentures Are Go

Brazil’s CVM has approved a BRL250m debut debenture issue from rental car agency Unidas. The 2012 notes will pay interest at the DI rate plus 2.75%. Itau is managing the sale. CVM also approved a BRL950m convertible debenture issue from metals producer Paranapanema. That offer will come in two series: a BRL200m 2010 tranche paying the IPCA inflation rate plus 6%, and a BRL750m tranche paying IPCA plus 9%. Santander is managing the sale. Separately, developer Trisul has started its debut BRL200m 2013 issue, paying DI plus 2.5%, via Bradesco.