VCP Readies Aracruz Jumbo

VCP Readies Aracruz Jumbo


Brazil’s Votorantim Celulose and Papel (VCP) was set to start today pitching investors $1bn in bonds to pay down debt at recently-acquired rival Aracruz Celulose. A 2-team roadshow will hit London, New York, Boston, and the US West Coast, finishing Thursday. An issue of approximately $1bn in equal 2016 and 2019 tranches is being readied, according to a Moody’s report assigning a Ba1 rating. The notes will be issued through the Cayman funding unit Fibria Overseas Finance, and fully guaranteed by

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