Light lines up local notes

Light lines up local notes

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

Brazil's Light said it could raise up to BRL750m ($194m) from the sale of debentures in the local market. The Rio de Janeiro-based power company gave a "firm guarantee" that it will sell at least BRL600m in local notes and make the "best efforts" to issue another BRL150, it said in a securities filing. Light will divide the sale into three series with notes that expire in 2022, 2024 and 2025. The company did not say how much it will issue in each series. The three-year notes will pay up to 90bp

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