MRS Approves Bond Issue

Shareholders in Brazil railroad company MRS Logistica have approved a BRL300m non-convertible debenture issue maturing in 2020. The bonds will pay 1.5% over the DI rate. Banco Bradesco will manage the issue. MRS runs the Southeastern Federal Railroad Network, which connects the states of Minas Gerais, Rio de Janeiro, and Sao Paulo. Its major shareholders are steel producer CSN and iron ore producer MBR.