Brazilian power producer Equatorial Goiás, a power distribution division of utility firm Equatorial Energia, raised BRL2.2 billion ($750 million) in a two-part debentures sale that fell short of the original BRL2.8 billion target.
The company printed BRL1.4 billion in regular debentures at the DI interbank lending rate plus 1% (short of the BRL2 billion that was originally announced) and BRL800 million in so-called incentivized debentures, which are tied to investments and are tax exempt for retail investors, it said Friday in a securities filing.
CARREFOUR SHOPS AT BNDES
Meanwhile, the Brazilian subsidiary of French retailer Carrefour said it may borrow BRL300 million from local development bank BNDES, as long as funding costs are below the country’s DI interbank lending rate.
“Board members approved the opening of a credit line from BNDES by the company or one of its subsidiaries of up to BRL300 million, as long as the line is subsidized and conditions are below 100% of the DI,” according to the minutes of a board meeting published on Friday. The meeting itself took place in late September.
The company did not say how it intends to use proceeds.