Neoenergia funds CEB deal in bond market

Neoenergia funds CEB deal in bond market

Debenture Debt Fixed Income M&A Brazil Europe Electricity

Neoenergia, the Brazilian subsidiary of Spanish electric utility company Iberdrola, sold BRL2 billion ($372 million) worth of debentures in the local market to fund the acquisition of CEB Distribuição (CEB-D), the distribution division of the state-owned power company Companhia Energética de Brasília (CEB). Neoenergia priced the 18-months notes at the DI interbank lending rate plus 1.05%, according to the local capital markets association Anbima. The Rio de Janeiro-based power company won the au

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