Petrochem Places USD-Linked Debentures

Brazil’s Petropar priced $209m-equivalent in domestic bonds that have their principal indexed to dollars. The 5-year bonds were priced to pay 9.25%, in line with expectations. Bradesco managed 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.