Cemig Picks Short-Term Debt Ahead of EDP Bid Results

Cemig Picks Short-Term Debt Ahead of EDP Bid Results

Brazil Bonds

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 on any international debt deals to finance acquisitions. The borrower has mandated Bradesco, BTG Pactual, Itau, HSBC and Banco Votorantim on an up to 1-year note that would pay interest at up to 106% of the DI. The issuance would apparently depend on the results of the bidding for a 21.35% stake in EDP, which the Portuguese gover

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