Irani arranges CRA sale

Irani arranges CRA sale

Debt Debenture Capital Markets Fixed Income Brazil

Brazilian pulp and paper producer Irani Papel e Embalagem said it is arranging the sale of up to BRL720 million ($140 million) worth of agribusiness receivables certificates, or CRAs, through local securitization company Eco Securitizadora. Porto Alegre-based Irani expects to issue at least BRL600 million in debentures in a two-part private placement with Eco to support the CRA deal, but it could increase the size of the transaction to meet demand, it said in a securities filing on Thursday. It

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