(Adds details on the company's debt profile, debt repayment
calendar in paragraphs 2-4)
SAO PAULO, March 26 Cia de Saneamento Básico do
Estado de São Paulo SA, Brazil's largest water and
sewage utility, is considering selling real-denominated notes on
local debt markets as early as this year, a senior executive
said on Wednesday.
Proceeds from the transaction could be used to refinance
maturing obligations, Mario Sampaio, liability management
director and head of investor relations, said at an event in São
Paulo. Management is looking at such a deal to stretch out debt
maturities, Sampaio added.
Sabesp, as the company is commonly known, is controlled by
the state of São Paulo, Brazil's richest province.
Part of the reason Sabesp might tap local debt markets is
that global turmoil would make it harder for corporate borrowers
to access bond markets overseas, Sampaio said. Foreign
currency-denominated debt represented 39 percent of Sabesp's
borrowings as of the end of September, the executive said.
The company has a significant debt repayment in November
2015, Sampaio said.
(Reporting by Marcela Ayres; Writing by Guillermo Parra-Bernal;
Editing by David Gregorio; and Peter Galloway)