Neoenergia lines up local debt sales

Neoenergia lines up local debt sales

Debenture Debt Capital Markets Corporate & Sovereign Strategy Energy Electricity Brazil

Brazil's Neoenergia is preparing to issue BRL1.2bn ($310m) in debentures through its subsidiaries Coelba and Celpe, according to a report from S&P Global. Coelba, a power company based in Bahia, plans to raise BRL700m from a two-part debt sale due in 2026 and use the proceeds to pay off outstanding debt, S&P said. Celpe from Pernambuco is preparing a two-part, seven-year debenture deal for BRL500m to pay off debt, according to S&P. S&P gave both debt sales a brAAA rating on the l

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