Klabin Plans Equity Sale

Brazilian paper producer Klabin is planning an equity follow-on, it says, to make up the main portion of a BRL1.7bn fundraising. Putting together funds for a BRL5.3bn project to construct a new pulp plant, Klabin will also seek BNDES loans and export credit facilities. It does not indicate a timetable for the follow-on, which will represent the debut of it units, each bundling one common and four preferred shares. The plant construction project, known as Puma, will have the capacity to produce 1.5m tons of cellulose per year and is located in the state of Parana.