Grupo Votorantim, Brazil’s largest diversified industrial conglomerate, plans to sell up to $750 million in 10-year dollar-denominated debt in global capital markets to repay maturing obligations, sources with knowledge of the situation told Reuters on Monday.
The company’s Votorantim Overseas Trading Operations V Ltd. finance unit will sell the notes on behalf of the Sao Paulo-based group, said the sources, who declined to be named because the transaction hasn’t been launched. No additional terms such as an indicative yield were available.
Subsidiaries Votorantim Cimentos and Cia. Brasileira de Aluminio will guarantee the notes.
Votorantim Participacoes, the holding company controlled by the Ermirio de Moraes family that has interests in cement, aluminum, mining, banking and pulp and paper, will launch roadshows in London, New York, Boston and the U.S. West Coast between Tuesday and Thursday, said the sources.