Even Costrutora Preps Local Issue

Brazilian developer Even Costrutora e Incorporadora is preparing to sell BRL250m in domestic bonds, it says. A 4-year tranche would pay the DI rate plus 2.1%, and amortize equally in the third and fourth years. A 5-year piece would pay the DI plus 2.3%, and have equal amortizations in years 3, 4, and 5. Even is raising funds to repay debt and purchase of new funds. Itau is lead manager on the deal, with Santander as bookrunner, according to an investor relations official.