Brazil's Sabesp plans to offer R$600 million 180-day promissory note

By Susanna Moon

Chicago, May 19 - Companhia de Saneamento Basico do Estado de Sao Paulo said it will place its third promissory note in the amount of R$600 million with a maturity of 180 days.

BB Banco de Investimento SA is the lead coordinator, and Caixa Economica Federal, HSBC Corretora de Titulos e Valores Mobiliarios SA and Banco Votorantim SA also are coordinators.

The offer will be targeted to a maximum of 50 qualified investors and may be subscribed by up to 20 qualified investors.

The company's directors approved the issue at a board meeting on Thursday.

Sabesp is a Sao Paulo, Brazil-based utility.

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