SABESP Readies BRL Bonds

Brazil’s Sabesp plans to sell BRL300m split between 2013 and 2015 debentures. It will set the amount of each series and the interest spread over the DI rate during bookbuilding, the water utility says in a prospectus. Proceeds will pay maturing debentures and debt from the IDB. HSBC will manage the transaction with Citi, Caixa Economica Federal and Banco do Brasil as co-managers.