January 15, 2019 |
Sonae Sierra said it plans to sell BRL200m ($54.1m) in debentures in the Brazilian market, split between five-year and eight-year notes.
Sonae also said it will exercise its option to buy the remaining 30% of the Plaza Sul shopping center in São Paulo for BRL159m.
The company may use some of the money from the debenture issue to pay for the stake in Plaza Sul, Sonae said in a securities filing.
Sonae and Aliansce Shopping Centers confirmed last month that they are negotiating a possible merge
Mall operator will use the proceeds to buy full control of the Plaza Sul shopping center