Brazil's Viacao Itapemirim to add up to $15.5 million to its notes due 2006

By Paul A. Harris and Reshmi Basu

New York, April 13 - Viacao Itapemirim SA plans to add an additional $15.5 million to its 12% notes due 2006, according to a market source.

Ramirez & Co. is the bookrunner for the deal.

Proceeds will be used to refinance short-term existing obligations.

The company placed $19.5 million of senior secured notes in February. The issue is listed on the Luxembourg Stock Exchange.

The company is the largest interstate bus company in Brazil.

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