Brazilian Electronics Co Captures Funds

Philco Eletronicos has completed the raising of BRL120m ($54m) through a debenture issue, according to Anbima. The 2017 debenture pays DI+1.1% and amortizes in payments at the end of each of the final two years. HSBC arranged the placement, done under the rule 476 restricted format. Started as a subsidiary of US-based Philco Electronics, Philco is now owned by Brazilian investors.