By Aaron Hochman-Zimmerman
New York, Sept. 21 - Rede Empresas de Energia Eletrica SA priced at par a $175 million add-on (B3/-/B) to its $400 million 11 1/8% notes sold on March 28, according to a market source.
The senior unsecured perpetual bonds are callable at par beginning in 2012.
The Sao Paulo, Brazil-based issuer, formerly known as Caiua Servicos de Eletricidade SA, is involved in the operation, generation, transmission and distribution of electricity.
| Issuer: | Rede Empresas de Energia Electrica SA
|
| Amount: | $175 million
|
| Issue: | Add-on to $400 million senior notes
|
| Maturity: | Perpetual
|
| Coupon: | 11 1/8%
|
| Price: | Par
|
| Yield: | 11 1/8%
|
| Call: | Beginning 2012 at par
|
| Pricing date: | Sept. 20
|
| Ratings: | Moody's: B3
|
| Fitch: B
|
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