Duke Paranapanema Raises Bond Sale

Duke Energy’s Brazilian unit Paranapanema plans to sell BRL341m in debentures, a minor increase from an originally slated BRL300m. The issue is split into a BRL250m 2013 tranche paying the DI rate plus 2.15%, and a BRL91m 2015 piece paying a fixed rate of 11.60%. The company’s board approved the increase in size due to increased demand. Proceeds will be used to repay debt. Citi and Itau managed the sale.