November 8, 2019
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."
Brazilian paper company finishes financing the Puma II project with a $730 mln loan from the national development bank