Telesp Issued Debt

Brazilian mobile carrier Telesp Celular has begun offering R$1 billion ($411.5 million) in ten-year floating rate bonds in two separate tranches. The bonds will yield 3.3%-4.2% over the 252-day interbank rate. Banco Itaú is coordinating the sale with ABN Amro Real, Santander, Citibank, HSBC, BB Banco de Investimento and Pactual will as co-managers. The offering was rated ‘brAA-‘ by Standard & Poor’s.