Cemig's $150 million in fixed rate notes launched by ING Barings in US, Europe.BELO HORIZONTE, Brazil--(BUSINESS WIRE)--Nov. 15, 1996--ING Barings today launched the $150 million fixed rate notes of Companhia Energetica de Minas Gerais - CEMIG CEMIG Companhia Energética de Minas Gerais (Brazil) - (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). : CEMCY/Brazilian EX: CMI (Computer-Managed Instruction) Using computers to organize and manage an instructional program for students. It helps create test materials, tracks the results and monitors student progress. 3), Brazil's largest fully integrated energy company, following two weeks of roadshow. The issue is expected to be placed in the US under Rule 144A Rule 144A A Securities & Exchange Commission rule modifying a two-year holding period requirement on privately placed securities to permit qualified institutional buyers to trade these positions among themselves. , and in Europe. The proceeds of the eight-year notes (put and call options at year five) will be used by Cemig to fund a portion of its 1996 capital expenditures of approximately $500 million. The issue has been priced to offer investors a yield of 9.20 percent p.a. to maturity, which today is equivalent to 300 bps over the eight year US Treasury with a coupon of 9.125 percent p.a. CONTACT: Luiz Fernando Rolla, Asst. to CFO See Chief Financial Officer. CEMIG Tel. 011-5531-299-3930 Internet address: LRolla@Cemig.com.BR or Jane Valdez The Anne McBride Company Tel. 212-752-0504 Internet address: McBrideCo@AOL.com |
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