Energisa Wins Bid for Rede

Energisa Wins Bid for Rede


Shareholders in Brazil’s Rede Energia have opted for a competing acquisition bid from Energisa, over a package put forward by CPFL and Equatorial last year. Under the deal, Energisa will offer creditors three options for repayment. The first is to have debt repaid in 2045, in which case secured creditors would get TR+2% interest and unsecured creditors, 1% interest. The second would offer an interest pick-up – to TR+4% on secured debt and ICPA+1% for unsecured debt, but only if holders increase

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