BEST CORPORATE LIABILITY MANAGEMENT

BEST CORPORATE LIABILITY MANAGEMENT

Brazil Bonds M&A Corporate & Sovereign Strategy

The union, christened Fibria, had solid operations and was the world’s largest pulp producer, but faced a massive task to refinance the 45% of total debt that was coming due 2010-2011. In all, Fibria faced $2.1 billion in derivative prepayments and $1.5 billion in other refinancing needs. It would tackle these through the sale of its Guaíba mill to Chile’s CMPC for $1.43 billion, a five and seven-year pre-export facility totaling $1.15 billion, and $1.00 billion in new 10-year bonds. Santander advised the buyer on the sale closed in December 2009. "We were able to retire all of our derivative debt by late May, and this gives us the flexibility to resume growth," says Jo

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial