Brazilian Port Operator Plans CP

Brazilian port administrator Santos Brasil plans to issue BRL200m in 306-day promissory notes. Santos expects to pay DI plus 4% and Itau is managing the issue, rated A-2 on a national scale, with Bradesco and Votorantim as co-managers. Proceeds will be mostly used to participate in auctions for new concessions within the next year in the southern, northern and northeastern regions of Brazil. Santos Brasil operates the port of Santos, in Sao Paulo state, and other ports in Brazil.