Portfolio Credit

CEB-Distribuição, responsible for the distribution of electricity in Brasília, a subsidiary of Companhia Energética de Brasília S.A. (BVMF: CEBR3), issues BRL 130 million in non-convertible debentures. Its concession contract was pending renewal and there was limited outlook of financial improvement at the company.

The concession contract is renewed through 2045.

HSI acquires BRL 83 million in non-convertible debentures from CEB on the secondary market.

CEB shows tremendous operational improvement, with a consequent decrease in the risk perceived by the market. HSI sells its entire position, obtaining a significant premium over the acquisition value, concluding the investment.