CMPC Advances Equity Sale

Shareholders of Chile’s CMPC have approved plans for a $500m equity capital raise, in order to fund expansion at the Guaiba plant in Brazil, CMPC says. The pulp and paper company is planning to finish the sale, comprised of 156m shares, in the first half of the year, and perhaps follow later with another $250m. CMPC is also looking at the sale of $500m in bonds in the international or local markets this year.