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Cerj to issue US$80mn in 36-month debentures

Bnamericas Published: Wednesday, June 23, 2004
Rio de Janeiro state-based power distributor Cerj unveiled plans on Wednesday to launch 249mn reais (US$80.1mn) in 36-month debentures in order to pay off debt. The proposed issuance was approved in an extraordinary meeting of Cerj shareholders on June 1. Creditors will manage the operation, including Bradesco, Citibank, Itaú BBA, ABN Amro and Unibanco. Cerj, which is controlled by Spain's electricity group Endesa, serves 66 municipalities in Rio de Janeiro, covering 73% of the state's territory.

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