June 4, 2019 |
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
Minas Gerais state power company looks to earn $940m from a two-part deal in the local market