CCR Follow-On to Top BRL1bn

Brazilian concessions operator CCR has updated its plans for an equity offering. It plans to offer 33m primary shares October 21 via Itau BBA as lead, with BTG Pactual and BofA-Merrill joint-leads. The offering can be increased by 15% through a greenshoe. At Monday’s close of BRL29.16, the offering would result in gross proceeds of BRL1.1bn. Proceeds are being use to acquire new concessions and finance existing ones, including a portion of the Linha Quatro Sao Paulo metro line, and part of the ring road that circles the city of Sao Paulo.