Localiza Nears Debenture Return

Brazilian rental car company Localiza plans to raise BRL300m ($149m) in domestic bonds, it says. A 2019 bond is expected to pay DI+0.95%, and amortize beginning in year four. Caixa and Banco do Brasil are managing the sale, done under the rule 476 restricted format. Localiza is rated AA+/Aa1. Earlier this year, Localiza tapped the debenture market for BRL500m.