CPFL unit preps local debt sale

CPFL unit preps local debt sale

Debenture Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Energy Renewable Solar Wind Brazil

Brazil's CPFL Energias Renováveis said it plans to issue up to BRL850m ($213m) in debentures in the local market to pay off loans and lower its funding costs. The São Paulo-based renewable energy company expects to price one series of three-year notes at 104.75% of the DI interbank lending rate and a series of 4.5-year notes at 106% of the DI. It did not say, however, how much it will sell in each issue and what bank it has hired to lead the sale. CPFL Renováveis worked with Bradesco when it s

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