Brazilian infrastructure company CCR said it plans to issue BRL2.2 billion ($395 million) in five-year debentures to raise funds for rolling over previous debenture issues.
CCR expects to price the 2029 notes at the DI interbank lending rate plus 0.75%, according to the minutes of a board meeting published on Thursday.
Company executives said a month ago the firm could raise up to BRL10 billion within the next decade as it seeks to propel the growth of its businesses.
CCR’s strategy is to “recycle capital” and seek alliances in urban mobility and possibly airports, company executives said during a meeting with investors in late May.
A CCR subsidiary that operates a toll road between Rio de Janeiro and São Paulo said last week it aims to issue BRL9.4 billion worth of 2047 debentures in a transaction led by Brazilian development bank BNDES.