AES Brasil, BRF JV plans bond issuance for wind projects.

Potengi Holdings, a joint venture between AES Brasil and BRF, is planning to issue R$300 million ($60m) in bonds for wind projects in Brazil. The bonds, which are guaranteed by both AES Brasil and BRF, have been rated AA(bra) by Fitch Ratings and will yield 7.37%. The proceeds from the bond issuance will be used to refinance several wind farms within the 1.3GW Cajuina wind complex in the state of Rio Grande do Norte. AES and BRF previously agreed to develop 165MW of the complex together, with BRF purchasing 80MW of power under a 15-year agreement. The coordinators for the bond issuance are UBS BB and XP. [Extracted from the article]