Brazil's Celpa sets tenor at five years for dollar-denominated notes

By Christine Van Dusen

Atlanta, May 24 - Brazil's Centrais Eletricas do Para SA (Celpa) set the tenor for its planned issue of dollar-denominated notes at five years, a market source said Tuesday.

Bradesco BBI, HSBC, Itau and Standard Bank are the bookrunners for the Rule 144A and Regulation S notes (B3//B).

Proceeds will be used for the repayment of short-term debt.

The notes are non-callable for three years and include a change-of-control put at 101%.

Celpa is a power generator based in Coquiero, Brazil.

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