March 28, 2018 / 10:53 PM / a month ago

Brazil's Biosev to roll over $1.1 billion debt, raise additional $1.4 billion

BRASILIA (Reuters) - Brazilian ethanol producer Biosev SA (BSEV3.SA) has signed preliminary agreements with 11 financial institutions to roll over 3.66 billion reais ($1.1 billion) worth of debt, it said in a securities filing on Wednesday.

Biosev said its board was also seeking shareholder approval to raise up to 4.79 billion reais ($1.44 billion) through a private offering. The company proposes issuing up to 1.1 billion common shares at $4.32 reais per share, with controlling shareholders expected to contribute 3.46 billion reais to the capital increase.

($1 = 3.3205 reais)

    Reporting by Jake Spring

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