Information contained on this page is provided by an independent third-party content provider. WorldNow and this Station make no warranties or representations in connection therewith. If you have any questions or comments about this page please contact firstname.lastname@example.org.
SAO PAULO, May 23, 2014 /PRNewswire/ -- Companhia de Saneamento Basico do Estado de Sao Paulo - SABESP (BM&FBovespa: SBSP3; NYSE: SBS), in compliance with Rule 358, of January 3, 2002, as amended, issued by the Brazilian Securities and Exchange Commission,("CVM") hereby informs its shareholders and the market in general that SABESP's Board of Directors' meeting held on May 14, 2014, approved the 19th issue of simple, unsecured and non-convertible debentures, in a single series, for public distribution, with restricted placement efforts, pursuant to CVM Rule 476, of January 16, 2009, as amended, in the total amount of R$500,000,000.00 ("Debentures"and "Offer", respectively).
The Offer will target qualified investors only, in compliance with Article 109 of CVM Rule 409, as of August 18, 2004, and its amendment, of Article 4 of CVM Rule 476. According to Article 3 of CVM Rule 476, the Offer will be presented to a maximum of 50 qualified investors, though the Debentures may only be subscribed by a maximum of 20 qualified investors. The process of structuring and distribution of the Debentures will be undertaken by a consortium of financial institutions that are part of the securities distribution system.
The proceeds from the issue and offer of Debentures will be used to pay the Company's financial commitments with due date to 2014 and 2015.
©2012 PR Newswire. All Rights Reserved.