April 10, 2020 |
Brazilian clothing retailer Guararapes Confecções is making moves to shore up its cash position by drawing BRL700 million ($137 million) from existing credit lines and lining up BRL300 million in promissory notes.
Lojas Riachuelo, a department store owned by Guararapes, will issue the notes, the first such sale by the company, under Brazil's Rule 476, the retailer said in a securities filing on Wednesday.
Guararapes added that it will have an additional BRL1 billion in cash after it sells the no
Brazilian clothing retailer lines up its first sale of promissory notes and draws from existing credit lines