Eldorado abandons bond sale

Eldorado abandons bond sale

Bonds Corporate & Sovereign Strategy Capital Markets Debt Fixed Income Brazil

Eldorado Brasil has called off a cross-border bond sale as a wrangle for control of the company has put off investors, LatinFinance has heard. The pulp producer had planned to raise up to $500m from the sale of dollar-denominated notes, but the minority shareholder Paper Excellence opposed the deal. The dispute led investors to ask for more yield, but Eldorado chose to pull the deal rather than pay a higher concession for the new notes.  Paper Excellence, which owns 49.4% of Eldorado, has sou

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