Lojas Renner Closes FIDC

Brazil’s Lojas Renner has closed a BRL350m domestic ABS using the FIDC structure. Units from the 2013 deal pay the DI rate plus 1.2% and are backed by the retailer’s credit receivables. Itau managed the deal rated AA+ on a national scale, along with Banco do Brasil, Banco Votorantim, Bradesco and Santander.