EDP subsidiary pays back IDB loan

EDP subsidiary pays back IDB loan

Brazil Bonds Loans Project & Infrastructure Finance

Energia Pecem, a subsidiary of EDP Energias do Brasil, has spent BRL923m ($276m) to pay back a loan from the Inter-American Development Bank (IDB) after raising funds in the local capital markets.The energy company replaced the dollar-denominated debt, with rates based on Libor, with BRL480m in local bond issues, pricing a five-year BRL330m debenture at 295bp over the DI interbank lending rate and a three-year BRL150m debenture at 273bp over DI.EDP also contributed BRL500m in capital to help pay

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