Ampla Advances Debentures

Brazil’s Ampla Energia e Servicos has approved the sale of BRL400m ($213m) in local debentures, it says. The energy company’s issuance is expected to include a 2017 tranche paying the DI plus up to 1.18%, and an inflation-linked 2019 tranche paying a fixed rate of at least 6.9%, but not exceeding a rate equal to the 2020 NTN-B bond at the time of pricing plus 1.50%. The exact amount of each tranche remains to be determined. Ampla is raising funds to repay short-term debt. Bradesco and HSBC are managing the sale, done under the 476 restricted format.