Brazil's Fibria calls all $690.2 million of 7½% senior notes due 2020

By Tali Rackner

Minneapolis, Jan. 29 - Fibria Celulose SA plans to redeem all $690.2 million of the 7½% senior notes due 2020 issued by Fibria Overseas Finance Ltd., according to a 6-K filed with the Securities and Exchange Commission.

The notes will be redeemed on March 26.

This transaction will reduce Fibria's annual interest expense by about $52 million.

The redemption will be funded with the R$1.4 billion of proceeds from the land sale that the company disclosed on Nov. 17.

Fibria is a Sao Paulo, Brazil-based pulp and paper company.

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