Ampla Closes Debentures

Brazil’s Ampla Energia has completed a BRL300m ($188m) floating-rate and inflation-linked debenture sale. A BRL117m 2016 tranche was priced at the DI plus 1.2%, under the 1.4% ceiling. It amortizes in each of the final 2 years. A 2018 IPCA-linked piece pays a fixed rate of 7.9%, and amortizes in each of the final 3 years. Ampla, a Rio de Janeiro-based distributor, which is a subsidiary of Spain’s Endesa, plans to use the proceeds to refinance debt. Itau and Santander managed the rule 476 transaction, rated AA minus on a national scale.