Eletrobras considers capitalizing government advances

Eletrobras considers capitalizing government advances

Debt Equity Corporate & Sovereign Strategy Loans Economy & Policy Energy Electricity Regulation Brazil

Brazil's Eletrobras said it could capitalize BRL3.99bn ($976m) in advances for a future capital increase that it received from the federal government in 2016. The company's board has not yet made a decision, and President Jair Bolsonaro would have to approve the transaction through a decree before it could proceed, Eletrobras said in a securities filing. "If and when the transaction occurs, the shareholders shall have preemptive rights," it said. Earlier this week, the Bolsonaro administration b

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