Meanwhile, the Brazilian local bond market is expected to continue to churn out new deals, seemingly unhindered by international market conditions. Power company Coelba plans to sell up to BRL354m in 2014 debentures on January 12 via Itau, Citi and Unibanco. The notes will repay existing debt and pay interest at DI plus 60bp. Another generator, CPFL’s Rio Grande Energia has launched a program to sell BRL380m in 2013 debentures in up to five issues through April. The notes, to be sold through Bradesco, pay DI plus 60bp and will repay old debt and finance new investments. Construction company Even is preparing a BRL500m 2013 debenture issue, and Generator Duke Paranapanema is planning a BRL750m 2014 and 2016 floating-rate note sale.