Preliminary talks about Latin Braskem SA planning to sell about US$500 mln of bonds in international markets to stretch out debt payments and help repay a bridge loan, are doing the rounds.
America's third- largest petrochemical company based in Sao Paulo, may sell the debt with maturities of seven to 10 years. Additionally, Braskem is seeking US$800 mln in loans in the form of export pre-payments. Proceeds from both the bonds and the loan would be used to pay off a US$1.2 billion bridge loan the company took on about a year ago to help finance a joint acquisition of Grupo Ipiranga, one of the people said.
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