June 14, 2013
Brazil’s Minerva is turning to the domestic bond markets, to raise BRL300m
Brazil’s Minerva is turning to the domestic bond markets, to raise BRL300m ($140m), it says. The meatpacker plans a 2018 debenture paying the DI+1.75%. Following the postponement of an effort to sell a perpetual bond last month in the international markets, Minerva is looking for funds to repay debt and for working capital. Banco do Brasil, BTG Pactual and HSBC are managing the process, to be done under the rule 476 restricted format. Minerva is rated BBB+/A minus on a national scale.