Copasa drafts local debt deal

Copasa drafts local debt deal

Debenture Debt Capital Markets Rule 476 Brazil

Copasa plans to issue up to BRL350m ($93m) in the local market, split between BRL200m in five-year notes and BRL150m in seven-year notes. The five-year notes will pay up to 107.5% of the DI interbank lending rate, while the seven-year notes will pay up to 100bp over NTN-B government bonds, the Minas Gerais state water company said in a statement. Copasa said it will issues the notes on February 8 and use the proceeds for its BRL786m investment program this year. The company got a long-term lo

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