April 17, 2020 |
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.
Rio-based power company raises $76 mln in short-term debt as the Minas Gerais telecom gets $29 mln