BRASILIA, Sept 21 (Reuters) - Brazilian energy company Energisa said on Monday it reached a deal with state development bank BNDES and a group of banks to raise 2.5 billion reais ($627.46 million) to strengthen its capital structure and expand its network of subsidiaries.
The financing for Energisa, owner of 13 power distribution concessionaires, will be structured via a capital increase worth 250 million reais by the company’s main shareholders. Banks Itau Unibanco, Bradesco, BTG Pactual, Citibank and BNDES will give Energisa a loan of 1.250 billion reais.
The plan also includes the sale of up to 1 billion reais in bonds with the guarantee of BNDES’s investment holding company, BNDESPar.
“The operation is in line with the company’s needs to invest in the electricity sector,” Energisa’s vice president of finances, Mauricio Botelho, told Reuters.
Botelho said that half of the money raised, or about 1.250 billion reais, will be invested in concessionaires bought from Grupo Rede. ($1 = 3.9843 Brazilian reais) (Reporting by Luciano Costa; Writing by Alonso Soto; Editing by Leslie Adler)