Unidas Starts Debut Debenture Sale

Brazilian vehicle rental provider Unidas has launched the sale of BRL250m in 2012 debentures. The bonds are a debut in the Brazilian debenture market and pay DI plus 2.75%. Proceeds from the deal, rated A on a national scale, will repay maturing short-term debt and fund the purchase of new vehicles. Itau is managing the transaction, with UBS, HSBC, Banif and Banco ABC as co-managers.