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BB-Banco de Investimento to lead-arrange Sabesp's promissory note offering

Posted on: Tue, 24 Nov 2009 03:17:00 EST

Symbols: SBS

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Nov 24, 2009 (M2 EQUITYBITES via COMTEX) --
SBS | Quote | Chart | News | PowerRating -- 24 November 2009 - Brazilian water and sewerage services provider
Companhia de Saneamento Basico do Estado de Sao Paulo (SAO:SBSP3), or
Sabesp, said on Monday it has picked a group of co-ordinators, led by
BB-Banco de Investimento, to structure its public offering of
promissory notes.

The pool of financial institutions that will carry out the structuring
and distribution of Sabesp's fourth issuance of promissory notes worth
BRL900m (USD521m/EUR349m) include Caixa Economica Federal and HSBC
Corretora de Titulos e Valores Mobiliarios acting as lead
co-ordinators, and Banco Votorantim acting as co-ordinator.

The notes will mature in 180 days from the date of issuance and the
raised funds will be used to settle the previous issue of promissory
notes of BRL600m, to meet other financial commitments and to strengthen
the company's budget.

The notes shall be paid with funds to be raised by Sabesp through a
public issue of debentures, which is currently being structured by the
co-ordinators on a firm commitment basis.

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For full details on Companhia de Saneamento Basico do Estado de Sao Paulo ADS (SBS) SBS. Companhia de Saneamento Basico do Estado de Sao Paulo ADS (SBS) has Short Term PowerRatings at TradingMarkets. Details on Companhia de Saneamento Basico do Estado de Sao Paulo ADS (SBS) Short Term PowerRatings is available at This Link.

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