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Banco do Brasil to use $1 billion from debt sales in foreign ops

Reuters

By Aluisio Alves

RIO DE JANEIRO (Reuters) - State-controlled Banco do Brasil SA (BBAS3.SA) will channel $1 billion it raised in seven-year notes on Wednesday to foreign operations, the bank's chief financial officer told journalists on a conference call.

The CFO, Alberto Monteiro, also said the company did not plan on selling more foreign debt to bolster capital. The debt issued on Wednesday had built-in yields of 4.7 percent with a coupon of 4.625 percent.

(Reporting by Aluisio Alves; Editing by Leslie AdlerEditing by Leslie Adler)