Eletrobras unit issues local notes

Eletrobras unit issues local notes

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

Furnas, a subsidiary of the Brazilian state-owned power company Eletrobras, has made its first debt sale under Rule 476 and issued BRL450 million ($110 million) in debentures in the local market. The regional electric utility company placed the five-year notes at 117.6% of the DI interbank lending rate, Eletrobras said in a statement. Eletrobras also said it will proceed with a another debenture sale for BRL850 million "in due course." Bradesco BBI has arranged both debt sale for Furnas, accordi

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