April 26, 2019 |
Brazil's Minerva said it plans to sell up to BRL600m ($152m) in debentures to extend its debt maturities in the local market.
The São Paulo-based food company will place at least BRL400m in local notes and make its "best efforts" to sell another BRL200m, Minerva said in a statement. It did not say which banks it has hired to underwrite the deal.
Minerva also said it will divide the issue into three- and five-year notes. The three-year paper will price no higher than 180bp over the DI interban
Brazilian food company plans to sell up to $152m in local notes to extend maturities