Copel, DASA plan local debt deals

Copel, DASA plan local debt deals

Debenture Debt Capital Markets Corporate & Sovereign Strategy Energy Electricity Rule 476 Brazil

Two Brazilian issuers — Copel and DASA — intend to sell up to BRL1.1bn ($269m) in debentures in the local market. Copel, the Paraná state power company, said it plans to raise BRL500m from the sale of three-year notes, priced as high as 106% of the DI interbank lending rate. The company added that it will use the money to redeem outstanding debentures and add to working capital. Copel has BRL520m in debentures that come due in June this year. It has another BRL600m that matures in January 2021.

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