Anhanguera to Sell Units in Follow-On

Brazil’s Anhanguera Educacional is scheduled to price today a sale of 29m units, each of which represents 6 preferred shares and 1 ordinary share. The deal can be increased by 15% via a 4.35m unit greenshoe, according to the company’s most recently filed announcement detailing the offering. At Monday’s closing level of BRL23.25, the deal could raise BRL775m, though it will likely be priced at a discount to Tuesday’s close. Itau BBA is leading, with BofA-Merrill as stabilizing agent and Santander and Credit Suisse as joint leads.