Localiza bond issues near US$700mn

Brazilian vehicle leasing and car rental company Localiza is highly focused on raising cash to push company growth as its latest bond issue announcement this week brings total issues in this semester alone to 3.15 billion reais (US$690mn).

In addition to a 950mn bond issue announced on Thursday (4 May), the company issued 1.5bn reais in bonds in March and 700mn in January, being used for cash recomposition and for paying ongoing and upcoming expenses.

While Localiza&Co has an overall fleet of more than 586,000 vehicles (considering 2022 data), its fleet subsidiary has nearly 241,000 vehicles, the largest car rental and vehicle leasing fleet in Latin America.