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REP plans bond issue for up to US$150mn

Bnamericas Published: Thursday, May 07, 2009
Peru's largest transmission company REP plans to issue up to US$150mn in bonds in a second corporate bond program, according to a presentation filed with securities regulator Conasev. The company plans to use proceeds to develop new expansion projects, substitute current debt and/or for general corporate purposes. The placing agent is Credibolsa. REP's expansion plan totals US$157mn and includes increasing capacity of transmission lines and substations, the presentation said. Projects under construction total US$69mn and will come online through next year. Colombia's ISA group and compatriot power utility EEB control 60% and 40%, respectively, of REP, whose 30-year concession began in 2002. REP operates 46 substations and 5,830km of lines.

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