January 23, 2001 (BNamericas.com) - Brazilian state-owned generator Cesp Parana, based in Sao Paulo state, will issue US$500mn in Eurobonds in February, in German marks, Sao Paulo state energy secretary Mauro Arce told local press. German bank West LB will advise on the issue. The objective is to reconvert the debt of other bonds that mature in May. This is one of the demands of the companies interested in gaining control of Cesp, which is to be auctioned at the end of March or the beginning of April, Arce said. The other demand is for the water level of the reservoir of the Porto Primavera plant to be increased. When these operations are completed it will be possible to set a new date for the auction of Cesp, Arce added. Brazil"s environmental institute (Ibama) yesterday began inspection of the Porto Primavera dam. The reservoir is 250km long and 10km wide, and water level will be raised to 257m from 253m. Business News Americas (BNamericas.com)