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Cemig Picks Short-Term Debt Ahead of EDP Bid Results

Dec 19, 2011

Cemig has apparently elected to take out BRL6.5bn ($3.5bn) in short-term local debt should it win its bid for a stake in Energias de Portugal (EDP), holding off for now...

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At a fundamental level, the issue is how to generate healthy returns in the medium to long term. Policy holders can see their fund go down over the course of a week or a month, but what we really should be looking at is returns over 20 or 30 years.

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