Brazil’s Eldorado to sell intermediate duration benchmark notes

By Rebecca Melvin

New York, Jan. 31 – Eldorado International Finance GmbH plans to price a benchmark-sized offering of senior notes (expected ratings: Ba3//BB-) of intermediate duration, guaranteed by Eldorado Brasil Celulose SA and Cellulose Eldorado Austria GmbH, according to a syndicate source.

The pulp and paper company has mandated Banco do Brasil, BTG Pactual, Bradesco and Santander as joint bookrunners for the Rule 144A and Regulation S deal.

Meetings with fixed-income investors are slated to begin on Friday and wrap on up on Feb. 6.

The proceeds will be used for liability management, improvements in the company’s debt maturity profile and general corporate purposes.

Eldorado Brasil is a Sao Paulo-based pulp producer.

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