Brazil's CTEEP raises USD 175m through green bond issue
Author: Oran Viriyincy. License: Creative Commons, Attribution-ShareAlike 2.0 Generic.
Brazil's electricity transmission concessionaire ISA CTEEP raised BRL 621 million (USD 174.8m/EUR 146.6m) through the issue of green bonds, thus becoming the first company in the local trasmission sector to do so.
The proceeds will be used to support projects awarded in the October 2016 and April 2017 auctions, totalling BRL 2.5 billion in investments, the company said on Monday.
This operation of simple non-convertible debentures in a single series has a seven year maturity period with a final rate of IPCA plus 4.7% per annum.
According to CTEEP's CFO and Director of Investor Relations, Rinaldo Pecchio Junior, demand for the offering was almost triple the base offer value.