MRV Closes Local Bond

MRV Engenharia has wrapped up a BRL500m ($266m) sale in Brazil’s domestic bond market, according to the CVM. The homebuilder’s 2017 debenture pays the DI+1.50%, in line with a limit set previously, and amortizes in 2 equal parts in each of the final 2 years. MRV elected not to sell any of the BRL500m through a 2018 tranche. It is raising funds to improve its debt profile. Bradesco and Caixa Economica Federal managing the sale, rated AA minus on a national scale.