MRV Wraps Local Bonds

Brazil’s MRV Engenharia e Partipacoes has wrapped up a $516.4m debenture sale, it says. The real estate developer will pay the DI benchmark plus 1.6% on the 2014 notes. It plans to use the funds for acquisitions and its investment program. Bradesco and Banco do Brasil are managing the sale, rated A+ on a national scale. The issuer had upsized the amount from BRL400m following positive feedback on its road show.