State Grid asks banks for refinancing in Brazil

State Grid asks banks for refinancing in Brazil

Loans Debt Project & Infrastructure Finance Brazil China Asia

Chinese state-owned power company State Grid is looking to take advantage of historically low interest rates in Brazil and refinance up to BRL3 billion ($695 million) in local debt, said a source familiar with the company's plans. The company has sent a request for proposals (RFP) to banks, asking for submissions to refinance between BRL1 billion and BRL3 billion in debt, but it has not decided on the final amount or picked a bank for the deal, the source said. State Grid is seeking a rate below

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