BR Properties Plots Debenture

BR Properties plans to return to the local bond market, it says, targeting BRL500m ($245m). The real estate manager’s 2014 debenture should pay DI+0.71%. Proceeds will go to repay debt. Banco do Brasil, Bradesco, BTG Pactual and HSBC are managing the sale, to be done under the rule 476 restricted format. The sale follows a BRL600m raise in July in the broader rule 400 market, including a 2017 tranche paying the DI+1.08% and an inflation-linked 2019 at 5.85%.