Brazil's Cetip more inclined to use cash to cut debt-CFO
SAO PAULO Dec 5 (Reuters) - Brazil's Cetip SA Mercados Organizados is more inclined to use cash to cut debt than to buy back shares, Chief Financial Officer Francisco Carlos Gomes said in a meeting with analysts on Wednesday.
The current cost of borrowing on Cetip's debt is "high" relative to the company's profile, Chief Executive Luiz Fernando Fleury added.
"Paying CDI (benchmark interbank rate) plus two percentage points looks high to me, given that the company is a strong creditor, has a strong name," Fleury, who will step down next year, said.
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