April 25, 2019 / 3:58 PM / a year ago

Brazil's Brookfield- backed pipeline co NTS authorized to sell securities

SAO PAULO, April 25 (Reuters) - Brazilian gas pipeline company Nova Transportadora do Sudeste (NTS) has registered to sell securities so it can sell bonds in the local market to refinance the deal in which it was acquired by Brookfield Asset Management, a source familiar with the matter said on Thursday.

NTS registered with the country’s securities industry watchdog CVM on Wednesday. The source said the company intends to sell bonds, not list the company in the stock exchange and sell shares.

Brookfield Asset Management had been planning a $1.6 billion bond sale denominated in reais since last year, which would be one of the largest recent debt transactions in the country.

The intention is to refinance part of the $5.2 billion investment to acquire NTS from state-controlled oil co Petroleo Brasileiro SA, Reuters reported. (Reporting by Tatiana Bautzer; Editing by David Gregorio)

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