Sabesp directors approve offering of up to R$750 million debentures

New York, June 21 – Companhia de Saneamento Básico do Estado de São Paulo – Sabesp announced that its board of directors has approved an offering of up to R$750 million of unsecured, non-convertible debentures in up to three series.

The offer will have a minimum size of R$500 million, according to a news release.

Up to 50 professional investors will be allowed to participate although the offer will be presented to up to 75, the company said.

Proceeds will be used to refinance commitments maturity this year and for cash.

Sabesp is a Sao Paulo, Brazil-based utility that provides water and sewage services.

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