SAO PAULO – Pay TV operator TVA has concluded a placement of $250 million in eight-year senior notes in the international market. Such a hefty bond placement is unprecedented for a Brazilian company.Closed Nov. 22 and announced on Nov. 26, the original $225 million offering was oversubscribed and subsequently increased by another $25 million. Buyers included about 60 institutions in over 30 cities in the U.S. Funds will be funneled into efforts to extend cable networks in leading cities, such as Sao Paulo and Curitiba, and to help launch the paybox’s planned news, children’s and music channels. Chase Securities was the lead underwriter. The 12.625% interest rate provides financing “at an accessible cost in comparison to Brazil,” says TVA chief financial officer Douglas Duran. TVA is a subsidiary of the Abril media conglom and boasts more than 350,000 subscribers.