Sanepar sticks to investment plans

Sanepar sticks to investment plans

Project & Infrastructure Finance Debt Debenture Loans Brazil

Paraná state water company Sanepar said on Wednesday that the coronavirus pandemic has not altered its investment plans as it intends to spend BRL1.3 billion ($220 million) on expanding water supply and sewage services this year.

"The company has the cash to support its projects," Sanepar said in a press release.

Sanepar issued BRL350 million worth of debentures in late March as the coronavirus outbreak spread to Brazil. It also shored up financing from the national development bank BNDES, the federal savings bank Caixa Econômica Federal and the German development bank KfW, it said.

Sanepar added that it will invest the money from the debenture deal in water supply projects in 87 towns and sewage services in 20 towns in the state of Paraná.

The company previously outlined plans to make BRL7.12 billion in investments through 2023, including BRL1.56 billion in 2020.