April 11, 2017 |
Brazil’s Energias do Brasil (EDP) raised BRL340m ($108m) in dual-tranche 2022 debentures, according to local capital markets association Anbima.
EDP Sao Paulo subsidiary priced a BRL150m 2022 note at 108.75% of the DI interbank lending rate, while fellow subsidiary EDP Espirito Santo raised BRL190m in 2022 paper at the same rate.
Moody’s gave the notes a preliminary rating of Aa1 on a local scale and said proceeds would refinance 2017 debt obligations, along with other working capital needs.
Two of the Brazilian energy company's subsidiaries issue $108m in 2022 paper