Minerva Convert Expected in July

Minerva Convert Expected in July

Brazil Equity Bonds

Brazilian beef producer Minerva is expecting to price its BRL300m ($190m) domestic convertible bond on or around July 10. The preliminary prospectus had originally scheduled pricing on Wednesday. The 2015 bond is expected to pay a maximum of 100% of the DI rate, and be convertible at a price of BRL6.65-BRL8.85. Both the interest rate and the conversion price are to be determined during the bookbuilding process. Proceeds are to repay a BRL220m 2013 loan from Bradesco, which costs 119% of DI, and

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