ALL Closes Upsized Debenture

America Latina Logistica (ALL) has wrapped up a BRL800m bond sale in Brazil’s domestic market, up from the BRL600m size it had originally indicated, according to the CVM. The freight transporter sold BRL539.2m in 2016 bonds which pay the DI rate plus 1.65%, and BRL270.8m in 2018 bonds that pay IPCA plus 8.49%, or the NTN-B government bond plus 1.76%. The pricing comes in below the respective DI plus 1.85% and NTN-B plus 1.85% price ceilings. The proceeds will be used to partially pay down debt coming due over the next 2 years. The issuance will also extend the company’s debt maturity schedule and fund its ongoing capital expenditures program. Itau, Santander and Votorantim managed the sale, rated A3/A minus on a national scale.