CPFL Upsizes Local Bond

Brazil’s CPFL has completed the sale of BRL660m ($324m) in the domestic bond market, according to Anbima, up from the BRL600m target it had set earlier. The power company’s 2019 debenture pays the DI+0.80%, in line with expectations, and amortizes in three equal parts during the final three years. Caixa Economica Federal managed the sale, done under the rule 476 restricted format. Last month, its CPFL Renovaveis unit completed the sale of BRL430m in 2022 debentures paying DI+1.7%.