Motiva raises R$1.8 billion in debentures for Linha Amarela in SP

Motiva announced this Monday that its rail division raised R$1.8 billion in debentures with an AAA risk rating from Standard & Poor's, in an operation linked to the Yellow Line of the São Paulo subway.

The resources will be used mainly for the early redemption of a previous issue, in addition to strengthening its cash position, the company said in a press release.

The company announced this year the extension of the Yellow Line to the city of Taboão da Serra, in Greater São Paulo, expanding the system by around 3.3 kilometers, with the construction of two more stations.

The works have an execution period of up to 60 months and mark the first time that the São Paulo metro goes beyond the limits of the capital of São Paulo. With the expansion, Line 4-Yellow will have 13 stations and will be 16.1 kilometers long.

Source: CNN