Brazil Cemig mulls $500 mln global bond -IFR

SAO PAULO, June 10 (Reuters) - Cemig (CMIG4.SA), the Brazilian power utility controlled by Minas Gerais state, may offer 10-year dollar-denominated bonds during the second half, International Financing Review, said on Wednesday, without saying how it obtained the information.

Cemig likely will proceed with the deal if it locks in a coupon of no more than 7 percent, said IFR, a Thomson Reuters publication. Cemig might be offering a benchmark-sized issuance, or at least $500 million of bonds, IFR said.

The Belo Horizonte, Brazil-based company will wait until Eletrobras (ELET6.SA), Brazil's state-run power utility, completes a sale of $600 million of dollar bonds next week to gauge investor appetite, IFR said.

Brazilian state development bank BNDES sold $1 billion of bonds last week at rates below 7 percent, in an early sign that debt capital markets are opening for Brazilian borrowers. (Writing by Guillermo Parra-Bernal; Editing by Leslie Adler)