Brazilian issuers have this week wrapped up debenture issues tight to initial pricing expectations. Toll-road operator Ecorodovias has priced a 3-tranche BRL600m deal. A BRL460m 2013 pays DI+1.5%, versus a maximum targeted spread of 2.0% over. The other 2 pieces were both BRL70m 2015s paying 8.75%, according to the CVM. Proceeds from the issuance will be used to pay down BRL407m in promissory notes and to capitalize Ecopistas, the company unit that manages and operates the Ayrton Senna-Carvalho Pinto highway system. Ecorodovias, one of the largest highway managers and operators in Brazil, is a unit of Italy’s Impregilo. Itau managed the sale. Elsewhere, energy generation and transmission company Alupar Investimentos has closed a BRL250m non-convertible debenture issue with a BRL232m 2013 at the maximum spread of 1.90% over DI. The balance is a 2014 at 8.95%. Proceeds will go to pay down debt and finance capex. Fitch has a national rating of A and Moody’s has an Aa3 on the issue, which is managed by Itau. Meanwhile, Ampla has priced BRL250m in non-convertible bonds. A BRL115m 2012 tranche pays DI+1.1%, tight to the 1.5% limit, while a BRL135m 2015 came at 8.3%. The issue was managed by Bradesco and Banco Votorantim. Finally, Votorantim Cimentos Brasil, the cement unit of Brazil’s Grupo Votorantim, said Wednesday it had sold BRL1bn in debentures, without giving further details.