ISA readies debentures
ISA Energia Brasil is looking to sell R$580m (US$105.2m) in debentures backing works on the Lot 7 and Lot 9 transmission projects in Minas Gerais, Rio de Janeiro and Sao Paulo.
Overall project costs are R$2.3bn. Banco Bradesco and Itau BBA are leading the deal. The funds will help finance works on the 318km Governador Valadares 6 – Leopoldina 2 500kV line; the 191km Leopoldina 2 – Terminal Rio 500kV line and its connection to a new yard; and the Agua Vermelha – Transformacao 500/138kV line. The sale will likely be part of a wider rush to market for similar types of deals before tax incentives on debentures are pared back at year-end.
