May 22, 2019 |
Brazil's Suzano plans to reopen its 7% 2047 bonds for the third time, adding another $250m to $500m to the unsecured notes, Fitch Ratings said in a report.
"The senior notes are expected to total up to $1bn due in 2030," Fitch said, adding that it has given a BBB- rating to the proposed reopening.
The São Paulo-based paper and pulp company will use the proceeds to pay off debt and for general corporate purposes, according to Fitch.
Suzano first printed the 30-year notes through its subsidiary
Brazilian paper company could add up to $500m to its 2047 notes to pay off other debts