Brazil’s Fibria Seeks Loan

Fibria Celulose, a Brazilian paper and pulp producer, has RFPs out for an export prepayment facility, made up of a 4-year revolver and 8-year term loan, expected to be for $800m, according to market participants. The paper producer was upgraded last month to BB+ from BB by Fitch with a stable outlook. Fitch had placed Fibria on positive watch in December following its announcement of the sale of a 50% stake in Conpacel for BRL1.5bn. Fitch also assigns a BB+ rating to Fibria’s $750m in 2021 bonds.