SAO PAULO, May 13, 2017 /PRNewswire/ -- A Companhia de
Saneamento Básico do Estado de São Paulo – Sabesp ("SABESP" or
"Company"), in compliance with Rule No. 358, dated as 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 the members
of the Board of Directors of SABESP, in a meeting held on
May 12, 2017, approved the 21th
issuance of simple, unsecured and non-convertible debentures, in up
to two series, for public distribution, with restricted placement
efforts, pursuant to CVM Rule No. 476, dated as of January 16, 2009, as amended ("CVM Rule 476"), in
the total amount of five hundred million reais (R$ 500,000,000.00) ("Debentures" and "Offer",
respectively). The existence of each of the series and the amount
of issued Debentures in each series will be defined according to
the bookbuilding process, in the communicating vessels system.
The Offer will target professional investors only, in compliance
with Article 9-A of CVM Rule 539, of November 13, 2013, as amended, and Article 2 of
CVM Rule 476. According to Article 3 of CVM Rule 476, the Offer
will be presented to a maximum of seventy-five (75) professional
investors, though the Debentures may only be subscribed by a
maximum of fifty (50) professional investors. The process of
structuring and distribution of the Debentures will be undertaken
by a consortium of financial institutions belonging to the
Securities Distribution System.
The proceeds from the issuance and offering of the Debentures
will be used to refinance its financial commitments maturing in
2017 and to replenish the Company's cash position.
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SOURCE Sabesp