MPX Energia is seeking to raise $782 million in a sale of convertible bonds, The Wall Street Journal reports. The investment arm of Brazil’s national development bank BNDES will buy $361.1 million of the bonds. GIF Gestao de Investimentos & Participacoes and Eike Batista, the owner of MPX, will buy $120.3 million each of the bonds. As part of the agreement, the buyers have preferential rights to buy additional $180.5 million in bonds. MPX will use the money to build a coal-mining operation in Colombia and for natural-gas production and a gas-fired power plant in northeastern Brazil.
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