Cescon Barrieu advises CERAN on debenture issue

Cescon Barrieu advised Itaú BBA Assessoria Financeira, acting as lead underwriter, and CERAN – Companhia Energética Rio das Antas, as issuer, on the latter’s second issuance of simple unsecured debentures, non-convertible into shares, in a single series. The debentures were offered publicly under the automatic distribution registration procedure, without prior review, pursuant to CVM 160, for a total amount of BRL120 million.

CERAN is a power generation concessionaire that develops and operates the Rio das Antas Energy Complex, a 360 MW system comprising the Monte Claro, Castro Alves, and 14 de Julho hydroelectric power plants in Rio Grande do Sul. The plants operate under a run-of-river model, which reduces the environmental impact of power generation compared to reservoir-based systems.

The proceeds from the offering are intended to fund the company’s general corporate purposes. The issuance also represents CERAN’s return to the capital markets after roughly nine years, following its previous debenture issuance in 2017.

Cescon Barrieu relied on partners Mariana Borges and Marcelo Moura, alongside Associates Vittoria Simoni and João Pedro Gaspar.