VCP Seeks Lenders for $1.8bn Bridge

VCP Seeks Lenders for $1.8bn Bridge

Funds

Brazil’s Votorantim Celulose e Papel (VCP), is days away from signing a $1.8bn bridge loan from JPMorgan, according to company executives. A contract must be inked by October 6, when VCP is slated to acquire a 28% stake in Aracruz from shareholder Arapar. Loan market participants say JPMorgan is already seeking to form a club of banks to join the facility until a longer-term takeout plan is put in motion. Pricing on the jumbo facility is rumored to be aggressive, in the 100bp-125bp area for one

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