Alupar Bond Road Show Begins

Brazilian energy generation and transmission company Alupar Investimentos was on the road promoting a BRL250m non-convertible debenture issue through November 27. The issue will be made in 2 tranches, one due in 2013 and the other a year later. The 2013 tranche will pay a maximum spread of 1.90% over DI and the 2014 notes will pay up to 2.25% over the national inflation-linked NTN-B. Proceeds will go to pay down debt and finance capex. Fitch has a national rating of A and Moody’s has an Aa3 on the issue, which is managed by Itau.