Brazil's Hypermarcas to offer R$200 million unsecured debentures

By Toni Weeks

San Luis Obispo, Calif., Dec. 2 - The board of directors of Hypermarcas SA approved on Dec. 2 an underwritten public offering of its sixth issuance of unsecured non-convertible debentures.

The company will issue R$200 million of debentures due July 24, 2017. Each debenture will have a nominal value of R$1 million.

Interest will be 110.75% of the accrued fluctuation of the average daily rate of the overnight DI-Interbank Deposits, extra group, on a 252-business-day basis.

The notes are callable at any time.

Proceeds will be used for ordinary management purposes, including the acquisition of the first series of the fourth issuance of simple, non-convertible unsecured debentures.

The company also changed the maturity date and term of duration of its standby facility to April 30, 2014 and 310 days, respectively.

The company also increased to $420,164,000 the amount of its repurchase offer for its 6½% debt securities due April 20, 2021.

Hypermarcas makes consumer goods in segments that include pharmaceuticals, beauty and personal care. It is based in Sao Paulo.

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