February 11, 2019 |
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 sought
Brazilian pulp producer calls off $500m deal as a dispute for control of the company unsettles investors