Companhia Energetica de Minas Gerais (CEMIG) announced that its subsidiary Cemig Gerallo de Transmissio would issue US$ 500 million in Eurobonds in addition to the announcement made at the end of 2017. The additional issue was priced with a yield of 9.14 % per year, settling on July 18 and maturing in 2024.
In a statement, the company said the initial demand for the operation reached more than US$ 1 billion, which represents more than twice the company’s offering.
Cemig also stressed that this move is in line with the strategy of extending debt and reducing financial expenses, since the funds raised should be destined to the payment of debts and the final cost of this funding, after exchange protection.
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