Klabin rolls out new notes for buyback

Klabin rolls out new notes for buyback

Asset Management Bonds Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Funds Project & Infrastructure Finance Brazil United States

Brazilian paper company Klabin said Monday that it plans to issue new notes to fund the buyback of any and all of its outstanding 5.25% 2024 bonds. Klabin made an offer to repurchase the $271 million in 2024 notes, proposing to pay $1,116.25 for every $1,000 in principal by the deadline on January 8. It has hired Bank of America, Bradesco BBI, Citi, Itaú BBA, JPMorgan and Morgan Stanley to manage the buyback and the bond sale. The 2024 bonds had a bid price of 110.375 on Monday, up 0.125 to yiel

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