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Multiplan Empreendimentos plans 300M reais debenture offering

Multiplan Empreendimentos Imobiliários SA will issue a single tranche of nonconvertible unsecured debentures worth 300.0 million reais in a public offering with restricted placement efforts.

Under the offering, the Brazilian real estate company will issue 30,000 debentures that have a nominal value of 10,000 reais each May 10.

The debentures will mature May 10, 2024.

Multiplan said the debentures' interest will be determined in a bookbuilding process and will be paid semiannually May 10 and Nov. 10 of each year.

Proceeds from the issuance will be used to pay general expenses, short- and long-term debts, and/or to raise the working capital of the company and its subsidiaries.

As of April 27, US$1 was equivalent to 3.47 reais.