Paranapanema advances debt, equity increase

Paranapanema advances debt, equity increase

Brazil Equity Bonds Corporate & Sovereign Strategy

Paranapanema’s board has approved a restricted share offering in a bid to boost cash and working capital, it said in a securities filing on Wednesday. The capital increase, for at least 333.3m new common shares, remains conditional, however, on a BRL360m ($114m) debenture issue that can be converted into shares, the filing showed.As previously reported by LatinFinance, the copper company’s restricted offering will be conducted under Brazil’s Rule 476. The capital increase and debt-to-equity

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