Brazil's Energisa plans to sell $250 million in perpetual bonds

By Reshmi Basu

New York, May 10 - Brazilian utility company Energisa SA plans to issue $250 million of perpetual bonds (/B+), according to a market source.

The bonds will be callable in five years in whole or in part, subject to a minimum outstanding amount of $100 million for partial calls.

Energipe SA, Saelpa SA, and Celb SA will issue the bonds while holding company Energisa will guarantee the offering.

Proceeds will be used to repay short-term debt.

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