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Brennand Energia turns to BNDES for wind and hydro
12 June 2012
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Brazilian renewables generator Brennand Energia is relying on Brazil's national development bank BNDES to finance the build-out of its wind and small hydro portfolio after abandoning plans to issue bonds to Brazil's state-run FGTS fund. Brennand Energia had hoped to issue R165 million ($80 million) in 14-year bonds to the Caixa Economica-managed fund, and had received a Baa1(br) local scale rating from Moody's in May 2011. The bonds would have benefited from as guarantee from Brennand Investimentos, like Brennand Energia...
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