Brazilian to Fund Project with Local Converts

Brazilian to Fund Project with Local Converts

Brazil Equity Bonds

Brazilian pulp producer Klabin plans to raise BRL1.7bn ($726m) for a cellulose plant through the sale of convertible bonds in the domestic market, it says. Up to BRL1.3bn of the issue is to be guaranteed by Singapore sovereign wealth fund Temasek and the Linga group. The debentures will pay 8.0%, with principal adjusted by changes in the BRL/USD exchange rate, and are mandatorily convertible to Klabin units in January 2019 – or January 2018 at the issuer's discretion if the Puma project in Brazi

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