BR Malls Prepares Perpetual

Brazilian shopping center administrator BR Malls Participacoes is planning a perpetual bond issue to fund acquisitions. The size is understood to be at least $100m. A roadshow will start next week, stopping in the US, Europe and Asia. The BB minus bond issue will be BR Malls’ first international debt sale. Earlier this month, it raised BRL600m from a primary share offering. In July, the company sold BRL320m in debentures. Citi and UBS are leading the perp.