Bradespar Places Promissory Jumbo

Bradesco’s equity investment arm Bradespar has issued BRL1.4bn in promissory notes. The 180-day paper will pay 106% of the DI rate. Bradespar which holds stakes in companies such as Vale CPFL Energia, says the notes were acquired by a total of 166 investors, including 148 investment funds. Bradesco’s capital markets unit led the offering, with UBS as co-manager. The placement follows Telemar’s placement of BRL3.6bn in one-year notes, as Brazilian issuers seek financing options in the short-term debt markets.