SAO PAULO, Aug 17 (Reuters) - Brazilian homebuilder Tenda intends to launch a follow-on share offering to raise as much as 250 million reais ($50 million), the firm said late on Wednesday, adding that it is also in talks with creditors to restructure its debt.
Tenda confirmed in a securities filing it intended to go ahead with the move, but said it had to take into account factors such as market conditions and investor appetite before making a final decision.
The homebuilder said the primary offering would initially amount to 200 million reais, but could be increased by another 50 million if demand allows it.
"The goal of this potential offering is raising funds to enhance the company's capital structure, with the aim of reducing its level of indebtedness," Tenda added.
At the same time, the company said it was in advanced talks with relevant creditors to restructure its debt, in a move that would encompass new debt issuances of up to 300 million reais.
That would include the early settlement of a portion of its short- and medium-term maturing debts, it added.
Tenda ended the second quarter with net debt of 625.6 million reais, down 17% from the previous three-month period. The net debt-to-equity ratio reached 90.2% in the period, down from 111.5% in the quarter through March.
Shares in Tenda have more than tripled in value so far this year.
($1 = 4.9881 reais) (Reporting by Gabriel Araujo and Alberto Alerigi Jr; Editing by Jan Harvey)
