Rumo mulls capital increase

Rumo mulls capital increase

Brazil Equity

Rumo said it has called a shareholder meeting for September 21 to discuss a share sale to increase capital by as much as BRL3bn ($968m).After restructuring its debt and increasing capital in 2016, Rumo has since engaged in strengthening its cash flow position and reducing debt, the company said in a statement.Rumo debuted in the cross-border market in February this year, when it raised $750m from the sale of 7.375% non-call four-year notes.Cosan Logistica owns 28.5% of Rumo, while t

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