Brazil's Hypermarcas to sell $276 mln in debt

SAO PAULO, June 11 (Reuters) - Hypermarcas, the largest Brazilian maker of consumer goods, plans to sell up to 500 million reais ($276 million) of local notes in three tranches to repay existing debt and recent acquisitions, according to a regulatory filing on Friday.

The Sao Paulo-based company will offer two-year, five-year and six-year senior real-denominated notes that will pay interest linked to the CDI rate BRCDICETIP=RR, a gauge of interbank borrowing costs in Brazil, the filing said.

The sale comes as the central bank raises interest rates from a record low to fend off inflation and prevent Latin America's largest economy from overheating.

Consumers helped pull Brazil out of its first recession in 17 years last year, and firms like Hypermarcas that rode out the crisis have expanded heavily in recent months to capitalize on the better times.

Proceeds from the Hypermarcas' sale, which is expected to be concluded next month, will be used to pay for the acquisitions of drugmakers NeoQuimica, DM Industria, diaper producer PomPom as well as other cosmetic and food producers.

The company will also use some of the proceeds to repay about 250 million reais in bank loans.

The company hired the investment banking units of Banco Bradesco (BBDC4.SA), Itau Unibanco (ITUB4.SA), Citigroup (C.N) and Banco Santander (SANB11.SA) to manage the transaction.

No credit ratings have been assigned to the transaction yet, according to the filing.

Hypermarcas, which has grown with more than 30 takeovers since its founding in 2000, and over the past year has bought almost a dozen companies in the over-the-counter pharmaceutical, food, personal hygiene and home care industries.

In a separate filing, the company said Chief Financial Officer Alexandre Olivieri stepped down and will be replaced by Martim Mattos, formerly its investor relations director.

Mattos joined Hypermarcas in 2005 and was named investor relations head in 2008.

A spokeswoman for the company could not immediately be reached for comment on the resignation of Olivieri.

Shares of Hypermarcas feel for a second day on Friday, shedding 0.1 percent to 23.18 reais. The stock has more than doubled over the past year.

(Reporting by Guillermo Parra-Bernal, Editing by W Simon )