CPFL Wraps Up Local Bond

CPFL Renovaveis has completed the sale of BRL430m ($210m) in the Brazilian domestic bond market, according to Anbima. The 2022 debenture pays the DI+1.7% and amortize in 8 equal parts, beginning in year 3. The renewable unit of CPFL Energia plans to use the funds to make acquisitions and to fund its projects. Itau handled the sale, done under the rule 476 restricted format. The renewable energy developer has a massive pipeline and is also preparing an IPO, which could launch as soon as this month and raise more than BRL1bn.