May 14, 2013
Brazil’s Companhia Melhoramentos Norte do Parana has finalized the placemen
Brazil’s Companhia Melhoramentos Norte do Parana has finalized the placement of BRL160m ($80m) in domestic bonds, according to Anbima. The holding company for various farmland interests in the state of Parana is paying DI+4.0% for the 2018 debenture. The bond begins amortizing in 2015. Proceeds are to be used for repaying bank debt to Itau and Santander, funding an acquisition and capex. Santander arranged the transaction, done under the rule 476 restricted format.