Light completes local debt sale

Light completes local debt sale

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

Brazil's Light has raised BRL618m ($157m) from its latest debenture sale in the local market, according to the capital markets association Anbima. The Rio de Janeiro-based power company divided the issue into three series, with BRL423m in six-year notes, BRL62.5m in five-year notes and BRL133m in three-year notes. The lead underwriter BTG Pactual priced the 2025s at 135bp over the DI interbank lending rate, the 2024s at 125bp over the DI and the 2022s at 90bp over the DI, according to Anbima.

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