Tractebel Advances BRL Bonds

Brazilian regulators have approved a BRL600m issue of 2011 debentures from Tractebel, according to the CVM website. The bonds rated AA on a national scale will pay 117% of the DI rate. The SUEZ unit will use the proceeds to pay down promissory notes coming due in May, as well as for other debt and working capital. It also is issuing BRL300m in 360-day promissory notes paying 125% of the DI rate. Banco Votorantim is running both transactions.