Brazil’s Cemig tenders for up to $500 million 9¼% notes due 2024

By Wendy Van Sickle

Columbus, Ohio, July 19 – Cemig Geracao e Transmissao SA began a cash tender offer for up to $500 million of its $1.5 billion of outstanding 9¼% notes due Dec. 5, 2024 (Cusips: 12517MAA0, P2205LAC9), according to a news release.

The company is offering a total consideration of $1,162.50 per $1,000 principal amount, which includes a $50 early tender premium that will be paid only to holders who tender by the early deadline of 5 p.m. ET on July 30, which is also the withdrawal deadline.

The offer will expire at 11:59 p.m. ET on Aug. 13.

Early settlement is planned for Aug. 5 and final settlement for Aug. 16.

Notes tendered may be subject to proration.

Banco Bradesco BBI SA (646 432-6642), Goldman Sachs & Co. LLC (212-357-1452 or 800-578-5378), Morgan Stanley & Co. LLC (800-624-1808 or 212-761-1057) and Santander Investment Securities Inc. (855-404-3636 or 212-940-1442).

D.F. King & Co., Inc. (212 269-5550, 800 578-5378 or cemig@dfking.com) is the information and tender agent.

Cemig GT is the generation and transmission unit of the Minas Gerais State integrated power company.

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