Brazilian out-0f-home advertising company Eletromidia and healthcare company Hospital Mater Dei are looking to raise a BRL1 billion combined in the local bond market.
Eletromidia plans to price BRL800 million ($157 million) worth of 2029 debentures at the DI interbank lending rate plus 2%, according to a securities filing issued on Tuesday.
The proceeds will be used to shore up the company’s cash position and for liability management purposes, including the early redemption of debentures as well as the prepayment of a 2023 swap agreement and other credit lines with Citibank, the filing said.
Eletromidia said it would benefit from a two-year grace period to repay the debentures.
Eletromidia is controlled by local investment firm Vesuvius while Brazilian multimedia group Globo has a 27% stake.
Meanwhile, Hospital Mater Dei aims to raise BRL200 million with a sale of seven-year debentures priced at the DI plus 0.95%, it said Wednesday in a securities filing.
The company will have to pay back the debentures in two installments from 2030, and the proceeds will be used to boost its cash position, the filing said