September 17, 2019
Brazilian paper company plans to raise $245m in the local market
Brazil's Suzano said its board has approved a BRL1bn ($245m) debenture deal in the local market, looking to raise money to add to working capital.
The São Paulo-based paper company plans to price the new nine-year notes at up to 101.2% of the DI interbank lending rate, it said in a securities filing on Monday.
S&P Global gave the notes a brAAA rating on the local scale, but it added that Suzano could face lower sales this year as China and the United States remain mired in a trade dispute.