PRIVATE PLACEMENT/POLICY/REGULATION

United States: Brazil’s Sabesp completed an offering of US$225 million principal amount of its 12% notes due 2008 in the private placement market.

The proceeds of the offering will be used to refinance the company’s 12% notes due 2003 and to repay certain of its other debts from time to time, Sabesp said. UBS Securities was the sole lead manager for the sale.

Brazil: São Paulo City Council voted through a bill to end Sabesp’s total control over the city ...

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