Terna Wraps up CP

Brazilian power distributor Terna Participacoes SA has completed a BRL550m promissory note sale. The 1-year notes pay interest at 113% of the DI rate. Terna plans to use most of the proceeds to pay off outstanding debts to its Italian parent Terna Rete. Buyers included 2 pension funds, and 4 financial entities linked to the issuer or managing banks, according to regulatory documents. Banco do Brasil, BTG Pactual, Citi and HSBC managed the sale.