Cemig unit sizes up debt sale

Cemig unit sizes up debt sale

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

Cemig Distribuição, a subsidiary of the Minas Gerais state power company Cemig, intends to issue up to BRL3.66bn ($941m) in debentures in the local market. Cemig D will split the sale into two parts, using the proceeds from one series to pay off debt and the proceeds from the other to cover investments, according to a report from S&P Global. S&P gave the upcoming debt sale a brA+ rating on the local scale, but added that Cemig needed to sell assets to lower debt. Cemig D had BRL5.14bn

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