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21 Loans and Financing | 12 Months Ended
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Dec. 31, 2019
Loans And Financing [Abstract] |
Loans and Financing | 21 Loans and Financing
|  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2019 | 12.31.2018
|  |  |  | Issue | Number of | Final | Payment | financial | interest | Contract
Contracts | Company | Allocation | Guarantees | Date | installment | maturity | of charges | charges p.y. | rate p.y. | amount
FOREIGN CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
National Treasury Department (STN - Secretaria do Tesouro Nacional) |  |  |  |  |  |  |  |  |  |  |  |
Par Bond | Copel | Debt negotiation | Guarantees deposited (21.1). | 05.20.1998 | 1 | 04.11.2024 | Half-yearly | 6.0% + 0.20% | 6.0% + 0.20% | 17,315 | 64,325 | 61,837
Discount Bond | 05.20.1998 | 1 | 04.11.2024 | Half-yearly | 3.5% + 0.20% | 3.5% + 0.20% | 12,082 | 44,658 | 42,914
Total foreign currency |  |  |  |  |  |  |  |  |  |  | 108,983 | 104,751
LOCAL CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
Banco do Brasil |  |  |  |  |  |  |  |  |  |  |  |
CCB 330.600.773 | Copel DIS | Working capital. | Credit assignment. | 07.11.2014 | 3 | 07.11.2019 | Half-yearly | 111.8% of DI | 111.8% of DI | 116,667 | - | 40,173
CFX 17/35959-7 | Copel DIS | 05.16.2017 | 2 | 05.06.2019 | Quarterly | 12.0% | 12.0% | 75,000 | - | 38,262
CCB 21/00851-5 | Copel DIS | 06.30.2017 | 2 | 06.13.2019 | Quarterly | 11.0% | 11.0% | 38,889 | - | 19,644
CCB 17/35960-0 | Copel DIS | 07.27.2017 | 2 | 07.17.2019 | Quarterly | 11.0% | 11.0% | 50,333 | - | 51,681
CFX 17/35958-9 | Copel DIS | 08.15.2017 | 2 | 08.05.2019 | Quarterly | 11.0% | 11.0% | 58,333 | - | 59,366
NCI 330.600.132 | Copel HOL | 02.28.2007 | 3 | 02.28.2019 | Half-yearly | 107.8% of DI | 107.8% of DI | 231,000 | - | 78,735
CCB 306.401.381 | Copel HOL | 12.19.2019 | 5 | 03.25.2022 | Quarterly | 120.00% of DI | 126.99% of DI | 640,005 | 640,530 | 648,953
NCI 306.401.445 | Copel HOL | 02.24.2017 | 2 | 02.15.2020 | Half-yearly | 124.5% of DI | 136.15% of DI | 77,000 | 39,446 | 79,225
|  |  |  |  |  |  |  |  |  |  | 679,976 | 1,016,039
Eletrobras |  |  |  |  |  |  |  |  |  |  |  |
981/95 | Copel DIS | National Program for Watering - Proni. | Own revenue; issue of promissory notes and commercial duplicates. | 12.22.1994 | 80 | 08.15.2019 | Quarterly | 8.0% | 8.0% | 1,169 | - | 49
982/95 | 12.22.1994 | 80 | 11.15.2019 | Quarterly | 8.0% | 8.0% | 1,283 | - | 24
983/95 | 12.22.1994 | 80 | 11.15.2020 | Quarterly | 8.0% | 8.0% | 11 | 26 | 51
984/95 | 12.22.1994 | 80 | 11.15.2020 | Quarterly | 8.0% | 8.0% | 14 | 11 | 22
985/95 | 12.22.1994 | 80 | 08.15.2021 | Quarterly | 8.0% | 8.0% | 61 | 11 | 17
206/07 | Rural Electricity Program - Luz para Todos. | 03.03.2008 | 120 | 08.30.2020 | Monthly | 5.0%+ 1.0% | 5.05% | 109,642 | 5,953 | 14,882
273/09 | 02.18.2010 | 120 | 12.30.2022 | Monthly | 5.0%+ 1.0% | 5.0%+ 1.0% | 63,944 | 4,933 | 6,577
|  |  |  |  |  |  |  |  |  |  | 10,934 | 21,622
Caixa Econômica Federal | Copel DIS | Rural Electricity Program - Luz para Todos. | Own revenue; issue of promissory notes and commercial duplicates. |  |  |  |  |  |  |  |  |
415.855-22/14 | 03.31.2015 | 120 | 12.08.2026 | Monthly | 6.0% | 6.0% | 16,984 | 13,410 | 15,298
3153-352 | Acquisition of machinery, equipment and IT and automation equipment. | Assignment of trade notes receivable. | 11.01.2016 | 36 | 12.15.2021 | Monthly | 5.5 % above TJLP | 5.5 % above TJLP | 1,156 | 331 | 496
|  |  |  |  |  |  |  | 13,741 | 15,794
Finep |  |  |  |  |  |  |  |  |  |  |  |
21120105-00 | Copel Tel | BEL project - ultra wide band intranet service (Ultra Wide Band - UWB). | Lock of proceeds received in current account. | 07.17.2012 | 81 | 10.15.2020 | Monthly | 4.0% | 4.39% | 35,095 | 2,626 | 5,778
21120105-00 | 07.17.2012 | 81 | 10.15.2020 | Monthly | 3.5% + TR | 3.88% + TR | 17,103 | 2,219 | 4,881
|  |  |  |  |  |  |  |  |  |  | 4,845 | 10,659
|  | Payment of the first installment of debentures and cash enhancement of Copel Get. |  |  |  |  |  |  |  |  |  |
Promissory notes | Copel GeT | Surety of Copel. | 05.12.2017 | 1 | 05.12.2019 | Single installment | 117% of DI | 117% of DI | 500,000 | - | 572,419
|  |  |  |  |  |  |  |  |  | - | 572,419
Banco do Brasil - BNDES Transfer |  |  |  |  |  |  |  |  |  |  |  |
21/02000-0 | Copel GeT | Implementation of Mauá HPP. | Revenue from energy sales from the plant. | 04.16.2009 | 179 | 01.15.2028 | Monthly | 2.13% above TJLP | 2.13% above TJLP | 169,500 | 95,807 | 107,324
|  |  |  |  |  |  |  |  |  |  | 95,807 | 107,324
|  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2019 | 12.31.2018
|  |  |  | Issue | Number of | Final | Payment | financial | interest | Contract |  |
Contracts | Company | Allocation | Guarantees | Date | installment | maturity | of charges | charges p.y. | rate p.y. | amount |  |
BNDES |  |  |  |  |  |  |  |  |  |  |  |
820989.1 | Copel GeT | Implementation of Mauá HPP. | Revenue from energy sales from the plant. | 03.17.2009 | 179 | 01.15.2028 | Monthly | 1.63% above TJLP | 1.63% above TJLP | 169,500 | 95,807 | 107,326
1120952.1 | Implementation of transmission line between Foz do Iguaçu and Cascavel Oeste substations. | Assignment of receivables; revenue from energy transmission services. | 12.16.2011 | 168 | 04.15.2026 | Monthly | 1.82% and 1.42% above TJLP | 1.82% and 1.42% above TJLP | 44,723 | 21,090 | 24,344
1220768.1 | Implementation of Cavernoso II SHP. | Revenue from energy sales from the plant. | 09.28.2012 | 192 | 07.15.2029 | Monthly | 1.36% above TJLP | 1.36% above TJLP | 73,122 | 46,240 | 50,908
13211061 | Implementation of Colíder HPP. | Assignment of receivables | 12.04.2013 | 192 | 10.15.2031 | Monthly | 0% and 1.49% above TJLP | 6.43% and 7.68% | 1,041,155 | 817,329 | 844,940
13210331 | Implementation of Cerquilho III substation. | 12.03.2013 | 168 | 08.15.2028 | Monthly | 1.49% and 1.89% above TJLP | 1.49% and 1.89% above TJLP | 17,644 | 11,385 | 12,659
15206041 | Implementation of transmission line Assis - Paraguaçu Paulista II. | 12.28.2015 | 168 | 06.15.2030 | Monthly | 2.42% above TJLP | 9.04% | 34,265 | 22,419 | 24,477
15205921 | Implementation of transmission lines Londrina - Figueira and Salto Osório - Foz do Chopim. | 12.28.2015 | 168 | 12.15.2029 | Monthly | 2.32% above TJLP | 8.93% | 21,584 | 13,526 | 14,832
18205101 | Implementation of Baixo Iguaçu HPP. | 11.22.2018 | 192 | 06.15.2035 | Monthly | 1.94% above TJLP | 8.50% | 194,000 | 196,827 | 162,229
14205611-A | Copel DIS | Preservation of business, improvements, operating support and general investments in the expansion and consolidation of projects and social investment programs of companies (ISE). | Surety of Copel; assignment of revenues and indemnity rights under the concession. | 12.15.2014 | 72 | 01.15.2021 | Monthly | 2.09% above TJLP | 8.37% | 41,583 | 7,611 | 14,591
14205611-B | 12.15.2014 | 6 | 02.15.2021 | Annual | 2.09 above TR BNDES | 2.09 above TR BNDES | 17,821 | 8,288 | 11,992
14205611-C | 12.15.2014 | 113 | 06.15.2024 | Monthly | 6.0% | 6.0% | 78,921 | 35,267 | 43,097
14205611-D | 12.15.2014 | 57 | 02.15.2021 | Monthly | TJLP | TJLP | 750 | 11 | 20
14.2.1271.1 | Santa Maria | Construction and implementation of wind generating plants. | Surety of Copel; pledge of shares; assignment of receivables and revenues. | 06.01.2015 | 192 | 08.15.2031 | Monthly | 1.66% above TJLP | 8.26% | 71,676 | 45,582 | 49,336
14.2.1272.1 | Santa Helena | 06.01.2015 | 192 | 08.15.2031 | Monthly | 1.66% above TJLP | 8.26% | 82,973 | 49,458 | 53,531
11211521 | GE Farol | Pledge of shares; assignment of receivables from energy sales from the project; assignment of machinery and equipment. | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 54,100 | 41,388 | 45,158
11211531 | GE Boa Vista | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 40,050 | 30,598 | 33,385
11211541 | GE S.B. do Norte | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 90,900 | 69,394 | 75,715
11211551 | GE Olho D'Água | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 97,000 | 74,112 | 80,862
18204611 | Cutia | Pledge of shares; assignment of receivables. | 10.25.2018 | 192 | 07.15.2035 | Monthly | 2.04% above TJLP | 8.37% | 619,405 | 611,457 | 517,083
13212221 - A | Costa Oeste | Implementation of transmission line between Cascavel Oeste and Umuarama Sul substations and implementation of Umuarama Sul substation. | Assignment of receivables; 100% of pledged shares. | 12.03.2013 | 168 | 11.30.2028 | Monthly | 1.95% + TJLP | 1.95% + TJLP | 27,634 | 19,203 | 21,291
13212221 - B | 12.03.2013 | 106 | 09.30.2023 | Monthly | 3.5% | 3.5% | 9,086 | 2,992 | 3,789
14205851 - A | Marumbi | Implementation of transmission line between Curitiba and Curitiba Leste and implementation of Curitiba Leste substation. | 07.08.2014 | 168 | 06.30.2029 | Monthly | 2.00% + TJLP | 2.00% + TJLP | 33,460 | 24,627 | 27,134
14205851 - B | 07.08.2014 | 106 | 04.30.2024 | Monthly | 6.0% | 6.0% | 21,577 | 9,813 | 12,076
|  |  |  |  |  |  |  |  |  |  | 2,254,424 | 2,230,775
Total local currency |  |  |  |  |  |  |  |  |  |  | 3,059,727 | 3,974,632
|  |  |  |  |  |  |  |  |  | Gross debt | 3,168,710 | 4,079,383
|  |  |  |  |  |  |  |  |  | (-) Transaction cost | (26,327) | (32,076)
|  |  |  |  |  |  |  |  |  | Net debt | 3,142,383 | 4,047,307
|  |  |  |  |  |  |  |  |  | Current | 255,521 | 1,113,047
|  |  |  |  |  |  |  |  |  | Noncurrent | 2,886,862 | 2,934,260
DI - Interbank Deposit Rate
IPCA - Inflation Index (Índice Nacional de Preços ao Consumidor Amplo, in Portuguese)
TJLP - Long-term interest rate
TR - Referential Rate
21.1 Collateral and Escrow deposits– STN Constitution of guarantees, in the form of a cash guarantee, Par Bond, in the amount of R$ 57,968 (R$ 52,717 at December 31, 2018), and Discount Bond, in the amount of R$ 40,465 (R$ 36,838 at December 31, 2018) intended to the repayment of the amount of principal related to the STN contracts, upon maturity on April 11, 2024. The amounts are adjusted by applying the weighted average of the percentage changes of the Zero Coupon Bond prices of the United States of America Treasury, by the percentage share of each series of the instrument in the portfolio of collateral for repayment of principal, constituted pursuant to the Brazilian Financing Plan of 1992. 21.2 Breakdown of loans and financing by currency and index
|  | 12.31.2019 | % | 12.31.2018 | %
Foreign currency - change in currencies in the period (%) |  |  |  |  |
U.S. Dollar | 4.02 | 108,983 | 3.47 | 104,751 | 2.59
|  | 108,983 | 3.47 | 104,751 | 2.59
Local currency - indexes at period end (%) |  |  |  |  |
TJLP | 5.57 | 2,271,187 | 72.30 | 2,245,786 | 55.49
CDI | 4.40 | 676,720 | 21.54 | 1,410,479 | 34.85
TR | - | 2,202 | 0.07 | 4,842 | 0.12
IPCA | 4.31 | 8,288 | 0.26 | 11,992 | 0.30
Without indexer (annual fixed rate) | - | 75,003 | 2.36 | 269,457 | 6.65
| 3,033,400 | 96.53 | 3,942,556 | 97.41
| 3,142,383 | 100.00 | 4,047,307 | 100.00
21.3 Maturity of noncurrent installments
12.31.2019 | Gross debt | (-) Transaction cost | Net debt
2021 | 706,500 | (2,781) | 703,719
2022 | 319,580 | (2,061) | 317,519
2023 | 191,584 | (1,618) | 189,966
2024 | 295,366 | (1,625) | 293,741
2025 | 185,009 | (1,622) | 183,387
After 2025 | 1,211,911 | (13,381) | 1,198,530
| 2,909,950 | (23,088) | 2,886,862
21.4 Changes in loans and financing
| Foreign currency | Local currency | Total
Balance as of January 1, 2018 | 89,270 | 3,670,235 | 3,759,505
Effect of acquisition of control of Costa Oeste and Marumbi | - | 66,775 | 66,775
Funding | - | 1,314,766 | 1,314,766
Charges | 5,038 | 289,365 | 294,403
Monetary and exchange variations | 15,161 | 11,936 | 27,097
Amortization - principal | - | (1,126,144) | (1,126,144)
Payment - charges | (4,718) | (284,377) | (289,095)
Balance as of December 31, 2018 | 104,751 | 3,942,556 | 4,047,307
Funding | - | 796,296 | 796,296
Charges | 5,599 | 268,950 | 274,549
Monetary and exchange variations | 4,170 | 6,907 | 11,077
Amortization - principal | - | (1,660,869) | (1,660,869)
Payment - charges | (5,537) | (320,440) | (325,977)
Balance as of December 31, 2019 | 108,983 | 3,033,400 | 3,142,383
21.5 Covenants The Company signed loans and financing agreements containing covenants that require economic and financial ratios to be maintained within pre-determined parameters, requiring annual fulfillment and other conditions to be complied with, such as not changing the Company's interest in the capital stock of subsidiaries that would represent change of control without prior consent. Failing to fulfill these conditions may lead to accelerated debt repayment and/or fines. As of December 31, 2019, the Company is in compliance with all covenants. The financial covenants contained in the agreements are presented below:
Company | Contract | Annual financial index | Limit
Copel GeT | BNDES Finem No. 820989.1 - Mauá | EBITDA / Net financial results | ≥ 1.3
Banco do Brasil No. 21/02000-0 - Mauá
Copel DIS | BNDES Finem No. 14205611 | Financial indebtedness / adjusted EBITIDA | ≤ 4.0
Santa Maria | BNDES Finem No. 14212711 | Debt service coverage ratio | ≥ 1.3
Santa Helena | BNDES Finem No. 14212721
São Bento Energia, Investimento e Participações | BNDES Assignment Agreement | Debt service coverage ratio | ≥ 1.3
GE Boa Vista S.A. | BNDES Finem No. 11211531
GE Farol S.A. | BNDES Finem No. 11211521
GE Olho D´Água S.A. | BNDES Finem No. 11211551
GE São Bento do Norte S.A. | BNDES Finem No. 11211541
Cutia | BNDES Finem No. 18204611 | Debt service coverage ratio (a) | ≥ 1.2
Costa Oeste | BNDES Finem No. 13212221 | Debt service coverage ratio | ≥ 1.3
Marumbi | BNDES Finem No. 14205851 | Debt service coverage ratio | ≥ 1.3
Financing for businesses - Finem
(a) financial ratio calculated based on the amounts of the consolidated financial statements of Cutia Empreendimentos Eólicos S.A.

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