April 15, 2019 |
State-owned power company would use the proceeds to further its investment plans, says deputy economy minister
Paraguay's Administración Nacional de Electricidad (ANDE) is considering a first-time bond sale in the international market, Deputy Economy Minister Humberto Colman told LatinFinance.
Officials have been auditing the state-owned power company's finances to prepare for a cross-border offering, according to Colman. "We believe it is one of the best public companies we have," he said. "It's had a satisfactory financial performance."
Colman said ANDE would use the proceeds of any offering to fund its investment program.
"Paraguay has great energy potential but has issues with transmission," he said. "The company has an investment plan. The idea is that issuing bonds would help it to gradually finance itself autonomously."
The utility is not the only state-owned company preparing for a bond issue. Colman said Banco Nacional de Fomento (BNF) is planning to tap the local debt market this year.