Cemar Preps Debentures

Companhia Energetica de Maranhao (Cemar) is preparing to sell BRL280m ($140m) in debentures in Brazil’s domestic market, it says. The utility plans a 2018 paying the DI plus up to 1.8%, and an inflation-linked 2020 paying up to 6.5%. Proceeds would fund working capital and repay debt. The unit of Equatorial Energia does not name the banks for the rule 476 sale, and an investor relations official declines to comment.