June 3, 2020
Norte Energia, the consortium that operates the Belo Monte hydroelectric dam in Brazil, raised BRL700 million ($134 million) in its first debt sale under Rule 476 in the local bond market, according to the capital markets association Anbima.
BTG Pactual led the deal and priced the 10-year debentures at the IPCA consumer price index plus 7.25%. IPCA stood at 2.4% in April, below the Central Bank's target range of 2.5% to 5.5%.
Norte Energia has borrowed BRL25.4 billion over the years from the nat
Hydroelectric dam builder raises $134 mln in its first debt sale under Rule 476