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Management Side
Technical Side
Aracruz Reaches Agreement with Banks Over Derivatives Debt
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Sao Paulo, Brazil, South America, 19 January 2009 -- In a Material Information Release notice to the market published 19 January, Aracruz Celulose reported it has reached an agreement with creditor banks representing more than 80% of the company's debt stemming from financial derivative transactions.

Under the agreed conditions, Aracruz will pay USD 2.13 billion deriving from the derivative transactions, plus about USD 500 million corresponding to already existing debts with some of the banks that were included in the negotiation. The overall maturity for amortizing the debts will be nine years, which can be reduced to seven years depending upon the company's operational and financial performance.

In the notice, Aracruz also reported that it expects to resume the Guaíba Unit expansion project in Rio Grande do Sul as of the first half of 2011.
 


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