Elecnor agrees a BRL 565 million project bond issue in Brazil
Elecnor, through its local subsidiary Celeo Redes Transmissão de Energia S.A., has agreed a project bond issue for its transmission lines in Brazil.
The BRL 565 million bond issue accrues interest equivalent to the yield of Interbank Deposit Certificates (“CDI”) plus an annual spread of 0.75%.
The issue was carried out on the local Brazilian market pursuant to the provisions of Instrução da Comissão de Valores Mobiliários nº 476 (“ICVM 476”).
The funds raised from this placement are guaranteed by the Vila do Conde Transmissora de Energia (“VCTE”) and Triângulo TL (“TTL”) projects and will be used to refinance (early cancellation of existing financing and new financing) and invest in other projects.