AES reorganizes to increase leverage in Brazil

AES reorganizes to increase leverage in Brazil

Debt Capital Markets Corporate & Sovereign Strategy Economy & Policy Energy Renewable Brazil Latin America US

Brazilian power company AES Brasil said Friday that it had board approval to merge AES Tietê with AES Brasil Energia and list the combined company on the Novo Mercado segment of the B3 stock exchange in São Paulo. AES Brasil said in a securities filing that the corporate reorganization will allow the new holding company to increase leverage because only the assets owned directly by AES Tietê will be subject to the current limit of 3.85 times EBITDA. "In addition to the 3.85x, the new projects wi

Already have an account?

Free trial

Take a free two-week trial now for the latest news, data and market analysis.

Free Trial