Celulosa Argentina is seeking approval from local regulators to issue up to $280 million in bonds, The Wall Street Journal reports. The board of directors will decide the tenure, currency, and final amount of any bonds that will be issued under the program. The Argentine forestry products company intends to use the proceeds for general corporate purposes, including working capital, refinancing of existing debt and investment in its operations. Celulosa, which has operations in Argentina and Uruguay, produces paper, cellulose and lumber.

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