Cemig unit arranges local debt deal

Cemig unit arranges local debt deal

Debenture Capital Markets Debt Corporate & Sovereign Strategy Fixed Income Energy Electricity Rule 476 Brazil

Cemig Geração e Transmissão (Cemig GT), the generation and transmission subsidiary of the Minas Gerais state power company Cemig, plans to issue up to BRL3bn ($729m) in local notes, S&P Global said in a report.Cemig GT will use the money to pay off debt and add to working capital. The deal is backed by receivables and a guarantee from the parent company, according to S&P. The rating agency gave the six-year notes a brA+ on the local scale, saying the generation and transmission business

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial