Votorantim raises $500m as Brazil fights back

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Votorantim raises $500m as Brazil fights back

The Brazilian government has raised a new 6% tax on any foreign loans or bonds with a maturity up to one year issued by Brazilian companies, in an attempt to lower pressure on the real, which has appreciated around 40% against the dollar in the last two years. Previously, the government only taxed debt with a three month maturity or lower.

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