Companhia Energética de Minas Gerais’s $1 Billion Senior Notes Offering

Paul Hastings represented Companhia Energética de Minas Gerais – CEMIG in connection with an inaugural international bond offering by its subsidiary CEMIG Geração e Transmissão S.A. (CEMIG GT).

The several times oversubscribed offering involved the issuance by CEMIG GT of $1.0 billion of 9.250% Senior Notes due 2024 guaranteed by CEMIG. The notes are being issued pursuant to Rule 144A and Regulation S. The underwriters involved were Bradesco BBI, Citigroup, Deutsche Bank Securities and Itaú BBA.

CEMIG is the largest integrated power group in Brazil, engaged in the generation, transmission and distribution of electricity. This bond offering marks an important step for CEMIG as it executes its plan to improve its capital structure and diversify its sources of financing. Paul Hastings also represents CEMIG in connection with its SEC filings and other corporate and regulatory matters.

Latin America practice partners Steven Sandretto (Picture), Taisa Markus and Mike Fitzgerald led the Paul Hastings team, which also included associate Eduardo Gonzalez and foreign associate Marcos Souza.

 

Involved fees earner: Steven Sandretto – Paul Hastings; Taisa Markus – Paul Hastings; Michael Fitzgerald – Paul Hastings; Eduardo Gonzalez – Paul Hastings;

Law Firms: Paul Hastings;

Clients: Companhia Energética de Minas Gerais S.A.;

 

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Author: Ambrogio Visconti.