* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Sunday, June 29, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Susquehanna Raises Penn Entertainment Inc. (PENN) Price Target. – Yahoo Finance

    Susquehanna Raises Price Target for Penn Entertainment Inc. (PENN)

    George Lopez is coming to Spokane – KXLY.com

    George Lopez is coming to Spokane – KXLY.com

    Netflix unveils Dallas immersive venue for fans of hit shows like ‘Squid Game,’ ‘Stranger Things’ – Houston Chronicle

    Step Inside Netflix’s New Dallas Immersive Experience Featuring Hits Like ‘Squid Game’ and ‘Stranger Things

    ‘Puttin’ on the Ritz’: Civic Players bring ‘Young Frankenstein’ to life – Yahoo

    Civic Players Deliver a Hilarious and Unforgettable Performance of ‘Young Frankenstein

    ‘Wheel of Fortune’: Amputee Wins $60,000 After Breaking Incredible ‘Curse’ – Hastings Tribune

    Wheel of Fortune’ Amputee Breaks Incredible ‘Curse’ to Win $60,000!

    North Star Sports & Entertainment Network: Coming soon – KTTC News

    North Star Sports & Entertainment Network: Coming soon – KTTC News

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

    Emerging Memory and Storage Technology Market Analysis Report 2025-2034 | AI and HPC Boom Fuels Surging Demand for Fast, Low-Power Memory Devices – Yahoo Finance

    How AI and HPC Are Driving Explosive Growth in Fast, Low-Power Memory Technologies Through 2034

    Ostin Technology (OST): Volatility’s Warning or Contrarian Opportunity? – AInvest

    Ostin Technology (OST): Navigating Market Volatility – Red Flag or Hidden Opportunity?

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    St. Francis Medical Center brings advanced robotic surgery technology to Northeast Louisiana – KNOE

    Wayve Expands Engineering Leadership to Power Next-Gen Autonomous Driving Technology – Silicon Canals

    Wayve Boosts Engineering Leadership to Accelerate Next-Gen Autonomous Driving Innovation

    Frontdoor Announces Tech Expert Dr. Bala Ganesh as Chief Technology Officer – Business Wire

    Frontdoor Appoints Tech Visionary Dr. Bala Ganesh as New Chief Technology Officer

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Brazil’s Light Strikes Preliminary Agreement with Creditors

April 16, 2024
in Business
Brazil’s Light Strikes Preliminary Agreement with Creditors
Share on FacebookShare on Twitter

Light SA will receive fresh cash and convert debt to equity under a preliminary restructuring deal it reached with creditors.

Author of the article:

Bloomberg News

Bloomberg News

Giovanna Bellotti Azevedo

Published Apr 16, 2024  •  1 minute read

Public works employees labor at a construction site in front a Light SA electricity substation in Rio de Janeiro, Brazil, on Tuesday, Feb. 11, 2014. Brazil's electrical grid will be able to cope with hosting the soccer World Cup as temperatures and consumption diminish by the time the tournament begins, the government's deputy energy minister said last week after a blackout affected 6 million people. Photographer: Dado Galdieri/BloombergPublic works employees labor at a construction site in front a Light SA electricity substation in Rio de Janeiro, Brazil, on Tuesday, Feb. 11, 2014. Brazil’s electrical grid will be able to cope with hosting the soccer World Cup as temperatures and consumption diminish by the time the tournament begins, the government’s deputy energy minister said last week after a blackout affected 6 million people. Photographer: Dado Galdieri/Bloomberg Bloomberg

(Bloomberg) — Light SA will receive fresh cash and convert debt to equity under a preliminary restructuring deal it reached with creditors. 

The troubled Rio de Janeiro utility said in a filing released Monday the agreement in principal includes a capital injection of as much as 1.5 billion reais, the issuance of new notes and converting as much as 2.2 billion reais of existing debt into equity. 

Advertisement 2

This advertisement has not loaded yet, but your article continues below.

Financial Post

THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, Victoria Wells and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.

SUBSCRIBE TO UNLOCK MORE ARTICLES

Subscribe now to read the latest news in your city and across Canada.

Exclusive articles from Barbara Shecter, Joe O’Connor, Gabriel Friedman, Victoria Wells and others.Daily content from Financial Times, the world’s leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.

REGISTER / SIGN IN TO UNLOCK MORE ARTICLES

Create an account or sign in to continue with your reading experience.

Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.

Sign In or Create an Account

or

Article content

Article content

The new capital is likely to come from major shareholders, Nelson Tanure, Ronaldo Cezar Coelho and Carlos Alberto Da Veiga Sicupira, who own a combined 65% of the company, Bloomberg News previously reported, citing people familiar with the negotiations.

Light, which has about 11 billion reais ($2.2 billion) in total debt, filed for bankruptcy protection last year, after warning that government regulators weren’t authorizing it to charge customers enough to pay its obligations. The company blamed energy theft and high delinquency rates for its deteriorating revenue. More than one-quarter of the power it was sending out on the grid was being lost to theft, costing the company around $200 million a year. 

Read more: One of Worst Emerging Bonds Rewards Stock Traders With 316% Gain

Under the agreement, at least 35% of adjusted credits will be converted equity — a total of as much as 2.2 billion reais. The conversion will take place within 90 days after Light renews its concession with the government.

The deal also includes the issuance of new securities. The first, for a maximum of 4.1 billion reais, would mature in eight years and pay inflation plus 5%. The second has a 13- year maturity and pays inflation plus 3%. The amount was not disclosed. 

A third note, to be issued to local creditors of subsidiary Light Sesa, will have a maximum amount of 670 million reais, with a 10-year maturity, and will pay CDI benchmark plus 0.5%.

The binding agreement will go to creditors for approval at a general meeting before becoming a full restructuring plan. 

—With assistance from Vinícius Andrade.

Article content

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Financial Post – https://financialpost.com/pmn/business-pmn/brazils-light-strikes-preliminary-agreement-with-creditors

Tags: Brazil'sbusinesslight
Previous Post

UA Canada Renews as a Presenting Sponsor of the Skills Canada National Competition

Next Post

Laminating Adhesives Industry Ecosystem, Growth, Size Analysis, Opportunities, Top Manufacturers, Share, Trends, Segmentation, Regional Graph and Forecast

WATCH: Health Secretary RFK Jr. Faces Intense Questioning on Vaccine Policy and Transparency in House Hearing

June 29, 2025
Jimmy Patronis hails House passage of bill benefitting military, veterans – Florida Politics

Jimmy Patronis Cheers House Approval of Landmark Bill Backing Military and Veterans

June 29, 2025
Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

Naples restaurant owner prepares for hurricane season with new flood technology – Fox4Now.com

June 29, 2025
Fireworks sales support Folsom youth sports: ‘This is our biggest fundraiser’ – Sacramento Bee

Fireworks Sales Ignite Support for Folsom Youth Sports: “This Is Our Biggest Fundraiser

June 29, 2025
Murder, she measured: The impressive science behind Agatha Christie’s poisons – Big Think

Deadly Secrets Unveiled: The Fascinating Science Behind Agatha Christie’s Poisons

June 28, 2025
Science and social norms – Golf Course Management magazine

How Science is Revolutionizing Social Norms in Golf Course Management

June 28, 2025
Study Links Skipping Breakfast to Poor Diet and Lifestyle Habits in Teens – Olive Oil Times

Study Links Skipping Breakfast to Poor Diet and Lifestyle Habits in Teens – Olive Oil Times

June 28, 2025
What Worries the World – June 2025 – Ipsos

Top Global Concerns Shaping June 2025

June 28, 2025
Small business owners aren’t jumping for joy about the US economy – but they still aren’t jumping ship – The Guardian

Small Business Owners Hold Firm Amid Ongoing Uncertainty About the US Economy

June 28, 2025
U.S. uninsured rates could resurge if Trump’s budget bill passes – NPR

U.S. Uninsured Rates Could Surge if Trump’s Budget Bill Becomes Law

June 28, 2025

Categories

Archives

June 2025
MTWTFSS
 1
2345678
9101112131415
16171819202122
23242526272829
30 
« May    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (699)
  • Economy (722)
  • Entertainment (21,613)
  • General (15,613)
  • Health (9,762)
  • Lifestyle (727)
  • News (22,149)
  • People (723)
  • Politics (729)
  • Science (15,939)
  • Sports (21,219)
  • Technology (15,707)
  • World (702)

Recent News

WATCH: Health Secretary RFK Jr. Faces Intense Questioning on Vaccine Policy and Transparency in House Hearing

June 29, 2025
Jimmy Patronis hails House passage of bill benefitting military, veterans – Florida Politics

Jimmy Patronis Cheers House Approval of Landmark Bill Backing Military and Veterans

June 29, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version