Tue May 13, 2014 5:00am IST

The board of Brazilian homebuilder Cyrela Brazil Realty approved the early payment of 400 million reais ($181 million) in debentures, according to a securities filing late Monday.

The debentures, issued in 2012, are part of the company’s sixth-round issuance of debentures. Cyrela, based in São Paulo, is Brazil’s biggest homebuilder.