MPX to Tap Private Converts

MPX to Tap Private Converts

Brazil Colombia Equity Bonds

MPX Energia plans to sell up to BRL1.3bn in domestic convertible bonds to finance coal and natural-gas projects in Colombia and Brazil, it says. The 3-year bonds are set to pay the ICPA inflation rate plus 4.00%, and would be convertible at any time until maturity at BRL43.00 per share. In the private deal, Eike Batista’s energy company has agreed to sell BRL600m to the BNDES development bank, BRL200m to private equity and asset management firm Gavea Investimentos and BRL200m to Batista himself.

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