Wednesday, August 29, 2012

Reuters: Regulatory News: Early cutoff for Brazil Cruzeiro buyback fails to hit threshold

Reuters: Regulatory News
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Early cutoff for Brazil Cruzeiro buyback fails to hit threshold
Aug 29th 2012, 12:49

Wed Aug 29, 2012 8:49am EDT

Aug 29 (Reuters) - Brazil's privately owned deposit guarantee fund FGC and Banco Cruzeiro do Sul, which was seized by the central bank in June, failed to garner the necessary support for a $1.59 billion bond repurchase plan in an early deadline, FGC said in a securities filing on Wednesday.

Both Cruzeiro do Sul and the FGC expect to seal the repurchase by Sept. 12, the last day investors will be allowed to tender their bonds, the filing added.

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