Klabin secures BNDES funding

Klabin secures BNDES funding

Loans Project & Infrastructure Finance Debt Brazil

Brazil's Klabin said it has secured BRL3 billion ($732 million) from the national development bank BNDES to finance the Puma II expansion project. The 20-year loan has a 2.5-year grace period and carries an interest rate equal to the IPCA consumer price index plus 3.58%, Klabin said in a securities filing. The São Paulo-based paper producer said it has completed the financing for the BRL9.1 billion Puma II project and extended the average maturities of its debt at "competitive costs." Klabin sig

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