April 2, 2019 |
Brazil's Klabin has sold BRL1bn ($258m) in 10-year debentures at 114.65% of the DI interbank lending rate, according to the local capital markets association Anbima.
Itaú BBA coordinated the debt sale, with the proceeds going to support the sale of agribusiness receivables certificates, or CRAs, through the local securities firm Vert.
The CRAs were divided into seven-year bullet notes at 98% of the DI and 10-year notes at 25bp over the IPCA consumer price, according to Vert. S&P gave Klabin'
Brazilian paper company issues $258m in 10-year debentures to back agricultural receivables