By Rogerio Jelmayer

SAO PAULO--Companhia Brasileira de Distribuicao (CBD, PCAR4.BR), Brazil's largest retailer by revenue, said it will raise 900 million Brazilian reais ($386 million) from an issue of local bonds, called debentures.

The company, which is controlled by French retail group Casino Guichard-Perrachon SA (CGUSY, CO.FR), said that the debentures will come due in September 2019 and the company said it will use the proceeds to reinforce its working capital.

Banco Bradesco BBI and Banco Safra will coordinate the operation.

Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com

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