November 30, 2022 |
Minas Gerais state power company Cemig plans to issue up to BRL1 billion ($190 million) in debentures in the Brazilian market to fund the buyback of international bonds that mature in 2024, according to a company source.
"Our revenues are all in reais and issuing abroad nowadays is much more expensive than local. We have to make a full hedge," the source said.
The company is looking to repurchase as much as $250 million out of $1 billion in 9.25% 2024 bonds, putting up $1,031.25 for every $1,000
Minas Gerais state power company plans to issue $189 mln in debentures to repurchase international bonds that mature in 2027, source says