Santher Plots Local Debt

Fabrica de Papel Santa Therezinha (Santher) plans to raise BRL125m ($60m) in Brazil’s local bond market, according to regulatory documents. The paper company plans a 2016 debenture that pays the DI plus a spread of 3.40%-4.15%, depending on its credit rating. Santher is raising funds to repay debt and for working capital. It does not identify the manager of the sale, to be done under the rule 476 restricted format. It raised BRL230m in June, paying DI+3.6%.