Industrial Lender Readies FIDC

Brazil’s TrendBank, a lender and intermediary specializing in financial services for industrial companies, is preparing a BRL200m ($126m) domestic securitization using the FIDC structure. The borrower has yet to decide on tenor but it is expected to pay interest at 120% of the DI. The fund created will consist of loans made to industrial, commercial and agribusiness companies. Banco Cruzeiro do Sul is managing and structuring the transaction, rated AA minus on a national scale by Austin Ratings. The transaction is scheduled to open to investors Thursday and could close as late as December, according to the prospectus.