Brookfield Closes Local Debenture

Brookfield Incorporacoes has finalized its BRL300m ($191m) bond sale in Brazil’s domestic market. A BRL77m 2015 tranche pays the DI+1.55%, coming in under a DI+1.6% ceiling, and amortizes equally in years 3 and 4. A BRL223m 2016 piece pays the DI+1.75%, equaling the maximum set prior to bookbuilding, and amortizes equally in years 4 and 5. Both feature a 1-year grace period. BTG Pactual and HSBC are managing the sale, done under the rule 476 restricted format. Brookfield is rated A3/A+ on a national scale.