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Unformatted text preview: r certificates, with interest of
7.98%, and repayments beginning, respectively, in December 1996 and June 1999, with
monthly interest payments which began in July 1995. In August 1995, Aracruz Trading S.A., a
wholly-owned subsidiary of the Company, used the funds to purchase the full amount of an
issue of US$ 150 million of Aracruz Celulose S.A.'s unsecured 9% notes, due August 2003;
accordingly these amounts have been offset against each other in the consolidated financial
During 1998, the Company, through Aracruz Trading S.A., entered into a U.S.$ 65 million
long-term debt, with maturities from September 2000 to November 2000. This debt was fully
paid at each maturity date during the year 2000.
At December 31, 2000, the Company had outstanding debt with the Banco Nacional de
Desenvolvimento Econômico e Social - BNDES, a stockholder, in an amount equivalent to
U.S.$ 170 million (1999 - U.S.$ 241 million) maturing up to 2006; local currency loans bear
interest at varying rates based on the TJLP plus 5.5% to 11....
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This note was uploaded on 02/05/2014 for the course ECON 101 taught by Professor Gottlieb during the Spring '08 term at Rutgers.
- Spring '08