Brazil Eletrobras proposes equal shareholder dividend

RIO DE JANEIRO, March 31 (Reuters) - Brazil's state-controlled electricity company Eletrobras on Wednesday proposed giving equal treatment to holders of common and preferred shares for its 2009 dividend payment in a move aimed at boosting transparency.
Eletrobras (ELET6.SA) has for years set aside the equivalent of 6 percent of shareholder equity to pay dividends for holders of its preferred stock.

It will now set aside an equivalent amount for dividends for common shares, which are mostly held by Brazil's government, helping Eletrobras trim tax debts, Eletrobras Finance Director Astrogildo Quental said in an interview.

Brazil posts record tax revenue for a February

Brazil posts record tax revenue for a February

* Economic growth boosts tax collections

* 2010 tax income expected to grow 12 percent

BRASILIA, March 18 (Reuters) - Brazil's tax revenue soared to a record for the month of February on the back of a fast-growing economy and will grow 12 percent this year, the government said on Thursday.

Tax income, adjusted for inflation, jumped to 53.5 billion reais ($29.8 billion) in February, an increase of 13.23 percent over February last year, data from Brazil's national tax authority showed.

In January, tax revenues had totaled 73.6 billion reais.

Banco Bradesco Launches $750M 5Yr Bond;175 BPs Over Treasurys

Banco Bradesco Launches $750M 5Yr Bond;175 BPs Over Treasurys

NEW YORK (Dow Jones)--Banco Bradesco (BBD), Brazil's second-largest private bank, launched a $750 million, five-year-bond deal Tuesday, offering a premium of 175 basis points over comparable U.S. Treasury notes, according to a person familiar with the deal.

The bonds are rated Baa2 by Moody's and BBB by Standard & Poor's.

Petrobras Will Raise Up to $60 Billion in Share Issue

Petrobras Will Raise Up to $60 Billion in Share Issue

March 15 (Bloomberg) -- Petroleo Brasileiro SA, Brazil’s state-run oil company, will issue as much as $60 billion of new stock, most of which will go to the government in exchange for oil rights, Energy Minister Edison Lobao said.

“Petrobras has no funding problems,” Lobao told reporters today in Sao Paulo. He said the company will issue between $40 billion and $60 billion of new stock. “The share sale will help us to diversify our funding sources.”

Banco Bradesco to Sell Benchmark Dollar Bond Overseas

Banco Bradesco to Sell Benchmark Dollar Bond Overseas

March 15 (Bloomberg) -- Banco Bradesco SA, Brazil’s second- largest lender by market value, plans to sell benchmark dollar bonds in its second overseas debt issue since September, said a person familiar with the transaction.

Goldman Sachs Group Inc., Banco Bradesco and Banco Votorantim will arrange the five-year bond offering, said the person, who declined to be identified because terms aren’t set. A benchmark sale typically means at least $500 million in size. The Osasco, Brazil-based bank sold $750 million of 10-year notes in September.

Banco Bradesco is returning to international bond markets after the company’s borrowing costs tumbled. The yield on Bradesco’s 6.75 percent bonds due in 2019 sank 44 basis points since September to 5.94 percent, the lowest since the securities were issued, according to data compiled by Bloomberg.

Brazil's Eletrobras to invest $5.1 bln in 2010 | Reuters

UPDATE 1-Brazil's Eletrobras to invest $5.1 bln in 2010

SAO PAULO, March 15 (Reuters) - Brazilian state-owned power utility Eletrobras (ELET6.SA) will boost investment by about two-thirds this year mainly for the some of the largest hydropower dam and electricity transmission projects in the nation, the company's chief executive said on Monday.

Eletrobras, Latin America's largest power holding utility, plans to increase investment to 9 billion reais ($5.1 billion) this year from 5.4 billion reais in 2009, CEO Jose Antonio Muniz said. Investments would total around 15 billion reais for 2011-2012, excluding new projects in which the company could take part, he added.

Mantega Says Brazil Currency Situation Not ‘Ideal’

Mantega Says Brazil Currency Situation Not ‘Ideal’

March 5 (Bloomberg) -- Brazilian Finance Minister Guido Mantega said today the country’s currency situation isn’t “ideal,” signaling the government may step up interventions in the market as it seeks to temper the real’s gains.

“We have a relatively stable situation now,” Mantega said today in a speech from Sao Paulo. “It’s not an ideal situation. We haven’t resolved the competitiveness issue.”