Klabin taps dollar market

Klabin taps dollar market


Brazilian packaging company Klabin sold a 5.25% $500m 2024 bond on Wednesday. Banco do Brasil, Bradesco, HSBC, Itau and Morgan Stanley priced the -/BBB-/BBB- rated bond at par, LatinFinance heard. The note was priced at 269.1bp over US Treasuries, said a source following the transaction. Klabin has a leading position in the Brazilian packaging sector and a high degree of vertical integration, but its leverage is likely to increase amid plans to build a BRL2.7bn ($1.2bn) pulp mill, Fitch said in

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