July 17, 2013
Brasil Pharma plans to raise BRL250m ($111m) in Brazil’s domestic bond mark
Brasil Pharma plans to raise BRL250m ($111m) in Brazil’s domestic bond market, it says. The pharmacy operator has the option of a 2019 tranche paying the DI plus up to 1.35% and a 2020 inflation-linked portion paying up to 1.50%, according to a prospectus. The deal could be upsized by as much as BRL338m. Brasil Pharma is raising funds to improve its debt profile and for working capital. The timing remains to be determined. BTG Pactual, Citi and Santander are managing the sale.