March 27, 2019 |
Brazil's Klabin said it is preparing a new international bond sale to raise money for a buyback as it also gets ready to issue BRL1bn ($259m) in debentures in the local market.
The paper and pulp produce did not say how much money it planned to raise from the upcoming bond sale, but it said it wanted to buy back all the $500m in outstanding 5.25% 2024 notes. It has offered to pay bondholders a premium of $31.25 through April 1.
Klabin has hired Bank of America, Bradesco BBI, Citi, HSBC, Itaú B
Brazilian paper company lines up new international bonds to fund a $500m buyback