Renova outlines asset sales to repay creditors

Renova outlines asset sales to repay creditors

Debt Corporate & Sovereign Strategy Capital Markets Project & Infrastructure Finance Regulation Energy Renewable Solar Wind

Brazil's Renova Energia has presented a judicial recovery plan that relies on asset sales to raise the money to pay off creditors over 14 years. In the proposal filed on Tuesday evening, Renova said it will make 24 semiannual payments after a two-year grace period to meet its debt obligations. The company listed BRL2.5 billion ($616 million) in debt in its judicial recovery plan, including BRL552 million owed to its shareholders and BRL406 million in intercompany loans. In November, when Renova

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