Localiza Hits Road in Debenture Act II

Brazilian car-rental agency Localiza started a roadshow yesterday for a BRL300m 2012 local bond issue. The rate will be set during bookbuilding, which is expected to conclude September 30. Proceeds from the transaction rated Aa2 on a national scale will expand Localiza’s fleet. Unibanco is managing. The issue follows a recent sale of BRL300m in 2011 bonds at DI plus 1.80% via Bradesco.