Fixed Income Analysis /
LatAm

CEMIG: We initiate coverage with a BUY recommendation

    Rafael Elias
    Rafael Elias

    Director, Latin America Credit

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    Tellimer Research
    18 December 2017
    Published byTellimer Research
    We are initiating coverage of Companhía Energética de Minas Gerais’ –CEMIG – wholly-owned subsidiary CEMIG Geração e Transmissão’s (CEMIG GT) US$1.0bn, 9.25% Senior Unsecured bonds due 2024 (NR/NR/B) with a BUY recommendation. The CMIGBZ bonds were issued and priced on 30 November 2017 at an issue price of 98.743.