|Bid||16.29 x 0|
|Ask||16.35 x 0|
|Day's Range||16.12 - 16.35|
|52 Week Range||16.12 - 16.35|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||24.72|
Brazilian paper producer Klabin SA said on Tuesday that its board approved a 9.1 billion-real ($2.3 billion) Containerboard expansion project. Klabin expects to build the Puma II project in the southern state of Parana between this year and 2023. Klabin will build two new paper machines, with production of integrated pulp, in the same industrial unit in the city of Ortigueira.
International banks are positioning their balance sheets toward syndicated loans for Brazilian borrowers in early 2019 as the country’s election in October has created more favorable financing conditions and global volatility continues to curb bond issuance. Lenders are also willing to allocate more funds to Brazilian companies than Mexican firms, as lenders assess the economic policy of Mexico’s newly-appointed left-wing administration led by Andrés Manuel López Obrador, who has criticized the private sector and recently canceled large-sized infrastructure projects.
Brazilian pulp and paper producer Suzano Papel e Celulose secured conditional EU regulatory approval on Thursday to buy Fibria Celulose to create the world's biggest wood pulp producer. The European Commission said Fibria had agreed to end its exclusive sales deal with Brazilian peer Klabin, and help create a competitor in Europe, to address EU antitrust concerns. Fibria has acted as the exclusive sales agent for all sales of bleached eucalyptus kraft pulp - an input to the paper, tissue and packaging industry - produced by Klabin outside South America.
Brazilian companies are raising new revolving credits in the syndicated loan market as the bond market remains expensive and improving credit profiles allow them to take a more global approach. Companies, including state-run energy company Petrobras, have traditionally relied on less transparent bilateral loans with international banks in return for lower interest margins and local currency loans with Brazilian banks, which can lend in reais. Brazilian pulp and paper company Klabin launched a US$1.1bn five-year deal in the first week of November which includes a revolving credit and a term loan, and follows a blueprint set earlier this year by Petrobras when the country’s largest oil firm raised a US$4.35bn revolver in March.