Even Wraps up Local Bonds

Brazilian homebuilder Even Construtora has finalized the sale of BRL250m in debentures in the local market, according to the CVM. A BRL125m 2015 tranche pays the DI plus 1.95%, inside of a 2.10% target listed in initial filings. A BRL125m 2016 portion pays the DI plus 2.20%, inside of a 2.30% target. The developer plans to buy land and refinance debt with the proceeds. Itau and Santander managed the sale, rated A2/A minus.