Brazil's Sabesp announces plans for up to R$500 million of debentures

By Angela McDaniels

Tacoma, Wash., July 15 - Companhia de Saneamento Basico do Estado de Sao Paulo - Sabesp said it plans to sell up to R$500 million of new debentures.

The debentures would be issued under a new securities distribution program of up to R$3 billion, according to a company news release.

The issuance will be subject to market conditions, and the amount and conditions of the debentures are to be determined.

The structuring of the new securities distribution program is being carried out by a consortium of financial institutions led by HSBC Bank Brasil SA - Banco Multiplo and including Banco Citibank SA, BB Banco de Investimento SA and Caixa Economica Federal.

Sabesp is a water and sewage service provider based in Sao Paulo.

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