Brazil's AES Tietê in US$185mn cash boost

Friday, December 26, 2014

Brazilian power generator AES Tietê has completed a public offering of promissory notes worth 500mn reais (US$185mn).

In a statement, the São Paulo-based company said it had issued 250 notes with a 360-day maturity period.

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Proceeds from the operation will to go toward refinancing debt, strengthening working capital and funding new investments, the company said.

AES Tietê owns and operates 10 hydropower plants with combined installed capacity of 2.65GW.

It is controlled by US multinational group AES Corp through subsidiary Companhia Brasiliana de Energia.