February 10, 2020 |
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
Chinese power company wants to refinance up to $695 mln in debt at rates that are too low for most investors and commercial banks, source says