July 25, 2019 |
Brazil's Natura Cosméticos said it plans to issue up to BRL1.71bn ($456m) in debentures in the local market to raise money to pay off debt over the next two years.
The São Paulo-based cosmetics company intends to price the five-year notes at up to 1.15% over the DI interbank lending rate on August 26, Natura said in a securities filing.
S&P Global gave the debentures a brAAA rating with a negative outlook, saying the recent acquisition of Avon Products could lead to higher debt levels.
Brazilian cosmetics company shapes a $456m debenture deal to pay off outstanding debt