Light, Algar issue one-year notes

Light, Algar issue one-year notes

Debenture Capital Markets Debt Corporate & Sovereign Strategy Fixed Income Telecoms Energy Electricity Brazil Latin America

Rio de Janeiro electric utility company Light and the Minas Gerais-based telecommunications company Algar Telecom have become the latest issuers to raise short-term debt in the Brazilian bond market during the coronavirus outbreak. Light said on Wednesday that it sold BRL400 million worth of one-year debentures to strengthen it cash position, pricing the new notes at the DI interbank lending rate plus 2.51%. Light previously raised BRL618 million through a three-part deal in May last year. Algar

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