Santher restructures $148.7M debt in Brazil
SAO PAULO, March 6, 2018 (PPI Latin America) -Brazilian major tissue producer Santher completed on Jan. 24 a debt restructuring plan. The company negotiated the amount of Real 484 million ($148.7 million) with eight banks – which accounts for 90% of the company's debts.
"This deal allows Santher to extend debt maturity in a relevant way and strongly reduces its current liabilities," the company stated.
The contract has a 5-year term with a 2-year grace period. Santher commented that 10% of the amount will be paid in 2020, 10% in 2021 and 80% in 2022. Average interest rate paid in the period ...