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Gafisa pays 157.5M Brazilian reais in last tranche of debenture issue

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Gafisa pays 157.5M Brazilian reais in last tranche of debenture issue

Gafisa SA paid the last tranche of the seventh issue of its debentures to Caixa Econômica Federal, which is worth roughly 157.5 million Brazilian reais.

Part of the funds for the transaction came from the expected refund related to a capital decrease of Construtora Tenda SA.

The payment sets the final stages of Gafisa's strategic plan, which involved the sale of a 70% stake in Alphaville, in addition to the demerger of Gafisa and Tenda.

As of Dec. 4, US$1 was equivalent to about 3.25 Brazilian reais.