Movida to follow parent with debut SLB

Brazil, car rental, fleet, Movida, Simpar, LatAm, 575
By Oliver West
26 Jan 2021

Car rental company Movida is looking to become the third Brazilian company this year to issue sustainability-linked bonds (SLB), just two weeks after its parent company issued a similar instrument.

Movida could issue a benchmark seven or 10-year debut international bond as soon as Thursday that will include a coupon step-up linked to greenhouse gas emissions. On January 14, Brazilian conglomerate Simpar — which owns 55.1% of Movida — sold $625m of SLBs after receiving $2.5bn ...

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