CMPC to Visit ECM, DCM

Empresas CMPC plans to sell bonds and raise equity capital in 2013, it says. The need comes after the Chilean pulp and paper company received final board approval to start the $2.1bn expansion of its Guaiba plant in Brazil. It expects to raise $500m in equity capital in the first half of 2013, followed by another $250m at a later point, and will seek shareholders’ approval January 24. It will also look to sell $500m in bonds in the international or local markets. Also, it expects a $1.2bn 10-year loan from BNDES and will look to shed some non-core assets, such as a 7.7% it holds in financial services firm Bicecorp.