Cemig Eyes 2010 Bond Sale

Cemig Eyes 2010 Bond Sale


Brazil’s Cemig is planning a dollar bond sale next year, likely $500m at 10 years, to replace short-term debt used in this year’s acquisition of Terna Participacoes. “Next year there is the probability that we will raise funds in the international market, but not this year,” CFO Luiz Fernando Rolla says. Issuing debt in local market to help replace the BRL2.7bn in 180-day promissory notes Cemig sold last month is also a possibility, he adds. Rolla says the BRL2.33bn acquisition of 66% of Terna w

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