December 24, 2008
Bradespar plans to issue BRL690m in 180-day promissory notes at 113% of the DI rate, it says. The equity arm of Bradesco, which holds stakes in companies including Vale and CPFL Energia, will use proceeds to repay BRL1.4bn in 180-day promissory notes issued in June at 106% of DI. It had originally aimed to issue 3-year debentures to cover the short-term debt. Bradesco, UBS and Espirito Santo are managing the transaction.