Cemig unit buys back local notes

Cemig unit buys back local notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Debenture Fixed Income Energy Electricity Brazil

Cemig Geração e Transmissão (Cemig GT), the generation and transmission subsidiary of the Minas Gerais state power, has reacquired BRL132m ($35.2m) in debentures. The buyback shows Cemig GT's "commitment to reduce debt, increase profitability and enhance its credit quality," Cemig said in a statement. Cemig GT sold BRL1.4bn in four-year notes in December 2014 at 170bp over the DI interbank lending rate. BB Investimentos, the investment banking division of the state-owned lender Banco do Brasil,

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