Brazil's Fibria redeems $690.2 million of 7½% senior notes due 2020

By Tali Rackner

Norfolk, Va., March 26 - Fibria Celulose SA redeemed all $690.2 million of the 7½% senior notes due 2020 issued by Fibria Overseas Finance Ltd., according to a 6-K filing with the Securities and Exchange Commission.

The bonds were redeemed at 111.3 on March 26.

This transaction will reduce Fibria's annual interest expense by about $52 million.

Fibria is a Sao Paulo, Brazil-based pulp and paper company.

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