Engie Brasil Energia, the Brazilian subsidiary of French power company Engie, has lined up an offering of BRL2 billion ($390 million) in green infrastructure debentures.
It expects to price so-called incentivized notes maturing in 2038 at 1.15% below inflation-linked Brazilian treasury notes due 2037, it said Thursday in the minutes of a board meeting.
The proceeds of incentivized debentures must be used exclusively to fund infrastructure investment, and buyers of the notes benefit from tax breaks.
Engie previously sold incentivized green debentures in February and June last year, raising a total of BRL4.2 billion.
The company has invested heavily in hydro and renewable energy in Brazil over the past three decades and currently has an installed capacity of almost 13 GW from 120 generating plants, according to its website.