Bradespar Readies Local Bonds

Bradespar, the equity arm of Bradesco plans to sell up to BRL800m in local bonds. The company does not disclose additional details of the operation, which remains to be approved by regulators. Bradespar sold BRL610m in 36-month debentures and BRL690m in 180-day promissory notes in January, both paying 125% of DI, a transaction that reopened the Brazilian local credit market.