Published on 4/25/2024 in the Prospect News Emerging Markets Daily.
New Issue: Movida issues $500 million 7.85% notes due 2029
Chicago, April 25 – Movida Europe SA issued $500 million of 7.85% notes due 2029 (Ba3//BB), according to multiple releases.
The notes are guaranteed by Movida Participacoes SA and Movida Locacao de Veiculos SA.
Morgan Stanley, Bradesco BBI, Goldman Sachs, Itau BBA, BTG Pactual, Citigroup, MUFG, Santander, UBS Investment Bank, and XP Investment Banking were bookrunners.
Proceeds are being used to repay certain existing local debt and for general corporate purposes, including capex.
The Sao Paulo, Brazil-based company is one of the largest rental car companies in Brazil. The issuer is a Luxembourg financial subsidiary.
Issuer: | Movida Europe SA
|
Guarantor: | Movida Participacoes SA and Movida Locacao de Veiculos SA.
|
Amount: | $500 million
|
Issue: | Notes
|
Maturity: | April 11, 2029
|
Bookrunners: | Morgan Stanley, Bradesco BBI, Goldman Sachs, Itau BBA, BTG Pactual, Citigroup, MUFG, Santander, UBS Investment Bank, and XP Investment Banking
|
Counsel to underwriters: | Cleary Gottlieb
|
Coupon: | 7.85%
|
Trade date: | April 4
|
Settlement date: | April 11
|
Ratings: | Moody’s: Ba3
|
| S&P: BB
|
Distribution: | Rule 144A and Regulation S
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.