BR Malls Readies Debentures

BR Malls plans to sell BRL300m ($167m) in 5 and 7-year local bonds. It has not given a target interest rate for the two tranches. Proceeds would go to repay existing debt. BTG Pactual, Itau and Citi are managing the sale. BR Malls is rated Aa2/AA minus on a national scale.