BR Malls Debentures Gets Green Light

BR Malls, the shopping mall acquisition and operating company, has received the go-ahead from the Brazilian securities commission or CVM to issue its debut local bond, worth BRL300m ($161m). Two tranches will have maturities of 2014 and 2016, and will pay 150bp over the yield of the 2015 NTN-B government note. UBS in coordinating. Earlier this year, the company raised BRL657m from its IPO on the Bovespa.