São Paulo water utility to raise funds via bond issue

Thursday, November 9, 2017

Brazil's government authorized São Paulo state water utility Sabesp to raise up to 611mn reais (US$188mn) via a debentures issue.

The government said it authorized the company to issue bonds as an infrastructure debenture, which count with tax exemption to attract investors.

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Sabesp plans to use the funds for projects in 71 cities to reduce loss and theft of water.

Additionally, the company secured a loan from the Japan International Cooperation Agency which will provide part of another 123mn reais to combat water loss.