29 Sep 19

Unidas issues US$48mn bonds in Brazil

Seeking to increase capital by 200 million Brazilian reais (US$48mn), local car rental and leasing company Unidas (formerly Locamerica) has issued 200 units of non-convertible bonds at 1,000 reais per unit.

This 18th offer is in a single series and matures in five years (September 20, 2024). Remuneration is 108% on the accumulated variation of the average one-day interbank deposit (CDI) rate.

The funds will be used to reinforce the company’s cash flow. Unidas is among the largest rent-a-car and leasing companies in Brazil. Others include Localiza and Movida.

Authored by: Daniel Bland