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Porto Seguro launches new debt program worth 80M Brazilian reais

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Porto Seguro launches new debt program worth 80M Brazilian reais

The board of Brazil's Porto Seguro SA on June 11 approved a new promissory note program worth 80 million reais, according to a regulatory filing.

The procceeds from the offering, which will be carried out in a single series of notes, will be used as working capital for the company.

As of June 11, US$1 was equivalent to 3.69 Brazilian reais.