AES Tietê plans local notes

AES Tietê plans local notes

Bonds Debt Capital Markets Corporate & Sovereign Strategy Debenture Rule 476 Brazil

Brazil's AES Tietê Energia intends to issue up to BRL2.2bn ($580m) in debentures in the local market, raising money to pay off debt from the Guaimbê and AGV solar projects. The power company will divide the debt sale into BRL1.38bn in 2027 notes and BRL820m in two series of 2029 notes, according to a report from Moody's. Moody's gave the debentures a Ba2 rating on the global scale and an Aa1.br on the local scale with a stable outlook, based on AES Tietê's "overall predictable and strong cash

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