CCR, Coelce Close BRL Bonds

Brazilian regulators have given final approval to a BRL598m debenture issue from Companhia de Concessoes Rodoviarias and to a BRL245m issue from power distributor Coelce, according to the CVM. Toll-road operator CCR sold a BRL448m 2012 series at 112% of DI, and a BRL150m 2014 tranche paying the ICPA inflation index plus 7.5%. CCR plans to pay off outstanding debentures with proceeds. UBS is managed the sale, rated A+ on a national scale. Coelce offered BRL90.5m in 2011 debentures at DI plus 0.95%, and BRL154.5m in 2014s paying a fixed 7.5%. It plans to use proceeds from the AA deal for the early repayment of BRL245m in 1-year notes paying DI plus 1.6% sold in May. Itau led the Coelce transaction.