Fibria redeems $118 million of 6¾% senior notes due 2021 at 110.64

By Susanna Moon

Chicago, Dec. 11 – Fibria Celulose SA announced the redemption on Wednesday of $118 million of the 6¾% senior notes due 2021 issued by Fibria Overseas Finance Ltd., a wholly owned subsidiary of Fibria.

The notes were redeemed at 110.64, according to a 6-K filing with the Securities and Exchange Commission.

The transaction is consistent with Fibria’s strategy to reduce its gross debt and related debt service costs and will reduce Fibria’s annual interest expense by about $8 million beginning in 2015.

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

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