Pague Menos pays back debt

Pague Menos pays back debt

Loans Debt Brazil

Brazilian drugstore chain Pague Menos said it paid off BRL171 million ($31.6 million) in loans from Santander ahead of schedule, according to a securities filing. The loans charged the DI interbank lending rate plus 4% and came due in August next year, Pague Menos said in the filing on Wednesday. The company also said it took out a working capital loan from Santander for BRL160 million. The two-year credit pays the DI plus 2.5%, according to Pague Menos. The Fortaleza-based chain raised BRL747 m

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