Machado Meyer advises on COELBA’s debenture issue

Machado Meyer acted as deal counsel on the 16th issue of simple debentures by Companhia de Eletricidade do Estado da Bahia – COELBA. The issue was worth BRL 1.2 billion and is guaranteed by Neoenergia.

COELBA is responsible for more than 560,000 kilometers of concessioned area, serves 415 municipalities and distributes energy to hundreds of people throughout Brazil. The funds raised through the Issue will be used for future payment or reimbursement of expenses under the issuer’s distribution plan for the years 2023 and 2024.

Machado Meyer relied on partner Paulo Markossian Nunes (pictured) and lawyer Bruno Henrique Navas de Carvalho.