Transmission Operator Clinches Debentures

Transmission Operator Clinches Debentures

Brazil Bonds

Interligacao Eletrica do Madeira, the electric transmission entity connecting the Rio Madeira hydroelectric facility to Brazil's grid, has finalized the sale of BRL350m ($177m) in domestic bonds, according to Anbima. The inflation-linked 2025 debentures pay 5.5%, and amortize annually beginning 2016. The bonds were set to qualify as infrastructure debentures, or bonds sold in Brazil's domestic market that offer tax advantages to foreigners and individuals based on their use of proceeds. Itau man

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