December 29, 2006
Brazilian power utility Companhia Paulista de Força e Luz (CPL) has sold $298 million worth (640 million reais) of local debt securities. The bonds, due December 1, 2013, will pay a maximum rate of 4.4% over the local interbank (DI) rate. Citibank coordinated the transaction. The bonds are rated BrA by ratings agency Standard & Poor's.