Brazil’s Hidrovias launches $600 million seven-year notes at 5.95%

By Rebecca Melvin

New York, Jan. 17 – Hidrovias International Finance Sarl, a subsidiary of Hidrovias do Brasil SA, has launched $600 million of seven-year notes to yield 5.95%, according to a market source on Wednesday. Final pricing was expected later in the day.

The notes are non-callable for four years.

Bookrunners of the Rule 144A and Regulation S notes are BofA Merrill Lynch, Itau, Morgan Stanley, BB Securities and Santander Securities.

Proceeds will be used to refinance the totality of the guarantor group’s project-finance debt.

Based in Sao Paulo, Hidrovias is the largest inland waterway services company in Brazil.

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