Sabesp strikes up local notes

Sabesp strikes up local notes

Debenture Debt Capital Markets Corporate & Sovereign Strategy Fixed Income Brazil

Sabesp, the São Paulo state water company, plans to sell up to BRL400m ($103m) in debentures in Brazil, less than a month after it returned to the local bond market with a BRL867m deal. The company said it will divide the deal into one series of seven-year notes and another of 10-year notes, but added that it could limit the size to BRL250m, depending on demand. Sabesp said it will invest the money over the next two years in water supply systems in 71 municipalities in the state of São Paulo.

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