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Nov. 16 (Bloomberg) -- Centrais Eletricas Brasileiras SA, Latin America’s largest publicly traded utility, is considering selling shares or debt to finance 13 billion reais ($7.3 billion) a year of investments through 2015.
Eletrobras, as the Rio de Janeiro-based company is known, is looking to finance investments in Brazil and to expand in Latin America, Africa and the U.S., Chief Executive Officer Jose da Costa Carvalho Neto said in an interview in Madrid today. About 10 percent of Eletrobras’s investments will go to international operations, he said.
“We are now balancing our budget for next year and we don’t know yet if we’ll increase our debt or equity,” Carvalho said. “One possibility would be to issue more debt with a bond issuance or to increase the equity for shareholders.”
Eletrobras rose 0.4 percent to 23.98 reais at 1:38 p.m. in Sao Paulo. The stock has lost 10 percent this year, less than than the 16 percent drop for Brazil’s benchmark Bovespa index.
--Editors: Carlos Caminada, Robin Saponar
To contact the reporters on this story: Manuel Baigorri in Madrid at firstname.lastname@example.org; Peter Millard in Rio de Janeiro at email@example.com
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