Retailer Plans Debenture

Lojas Renner is preparing to raise BRL300m ($145m)in the domestic bond market it says. The issue will be divided into a 2018 tranche paying the DI plus up to 1.05%, and a 2019 inflation-linked tranche paying up to 6.25%. Each portion would amortize in three equal parts in each of the final three years. A 15% upsizing is possible. The retailer is raising funds to improve its capital structure. Itau and HSBC are managing. Renner is rated AA+ on a national scale.