Petrochem Co Readies USD-Linked Debentures

Brazil’s Petropar is preparing to sell $210m-equivalent in domestic bonds with principal indexed to dollars. The 5-year bonds are expected to pay 9.25% and will be issued Wednesday for an amount equivalent to $210m, or about BRL395m. Bradesco, HSBC and Santander are managing the sale, done under the rule 476 restricted format. Petropar manufactures polypropylene products, as well as plastic and metal packaging, and has operations in Brazil, Mexico and the US. Proceeds will help fund the $286m acquisition of US-based Fiberweb Holdings’ hygiene business.