Brazilian Metalworker Raises Debt

Brasmetal Waelzholz has completed the sale of BRL130m ($81m) of bonds in Brazil’s local market. The metalworker’s 2019 notes came at DI plus 3.0%, and amortize beginning in 2012. BW, as it is known, plans to use proceeds for capex and improving the capital structure of the business, according to a source at the company. Itau managed the rule 476 sale. BW was formed in 1973 from a joint venture of Grupo Souto Vidigal and Germany’s C.D. Walzholz. It supplies parts to the auto parts, appliances, hardware and several other industries.