April 20, 2021 |
Brazilian beef company Minerva said Monday that it raised BRL1.6 billion ($288 million) in a two-part debenture deal in the local market, raising money to pay off high-cost debt in foreign currency.
"With this move, we expect an additional reduction of approximately 250 basis points per year in the debt cost of this installment, the Barretos-based meatpacker said in a securities filing.
Minerva printed BRL1.2 billion in seven-year debentures at the IPCA consumer price index plus 5.5034% and BRL4
Brazilian beef company raises money in the local market to pay off high-cost debt in foreign currency