B2W Closes Debenture

Brazil’s B2W has completed the sale of BRL300m ($148m) in domestic bonds, according to Anbima. The 2017 bond pays 120% of the DI, and amortizes in 3 equal parts in each of the final 3 years. The online retailer resulting from the merger of Submarino and Lojas Americanas’ online business is raising funds for working capital. Bradesco managed the sale, done under the rule 476 restricted format.