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22 Debentures (Tables) | 12 Months Ended
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Dec. 31, 2019
Debentures [Abstract] |
Schedule of debentures |
|  |  |  |  | Issue | Number of | Final | Payment | Contractual financial | Effective interest | Contract |  |
Company | Issue | Characteristics | Allocation | Guarantees | Date | installment | maturity | of charges | charges p.y. | rate p.y. | amount | 12.31.2019 | 12.31.2018
Copel | 5th | (a) | Working capital or used to make investments in the issuer. | Personal guarantee | 05.13.2014 | 3 | 05.13.2019 | Half-yearly | 111.5% of DI | 111.5% of DI | 1,000,000 | - | 336,341
6th | 06.28.2017 | 1 | 06.28.2019 | Single installment | 117.0% of DI | 117.0% of DI | 520,000 | - | 586,230
7th | 01.19.2018 | 2 | 01.19.2021 | Half-yearly | 119.0% of DI | 125.18% of DI | 600,000 | 617,378 | 619,998
8th | Payment of the 6th issue of debentures and working capital increase | 06.14.2019 | 1 | 06.14.2022 | Half-yearly | 106.0% of DI | 110.93% of DI | 500,000 | 500,906 | -
Copel GeT | 1st | (a) | Working capital or used to make investments in the issuer. | Personal guarantee | 05.15.2015 | 3 | 05.15.2020 | Annual | 113.0% of DI | 114.29% of DI | 1,000,000 | 346,906 | 696,593
2nd | 07.13.2016 | 2 | 07.13.2019 | Annual | 121.0% of DI | 121.0% of DI | 1,000,000 | - | 517,565
3rd | 10.20.2017 | 3 | 10.20.2022 | Half-yearly | 126.0% of DI | 131.21% of DI | 1,000,000 | 1,011,691 | 1,014,685
4th | Full early redemption of the 4th issue of the Company’s trade promissory notes and partial payment of the 1st amortization installment of the 2nd issue of debentures. | 07.23.2018 | 3 | 07.23.2023 | Half-yearly | 126.0% of DI | 133.77% of DI | 1,000,000 | 1,030,054 | 1,032,762
5th | (b) | Reimbursement of expenses related to the construction of the Transmission Lines Araraquara II - Taubaté, Assis - Londrina and Foz do Chopim. | 09.25.2018 | 5 | 09.15.2025 | Half-yearly | IPCA + 7.6475% | IPCA+ 8.3295% | 290,000 | 308,464 | 295,448
6th (1st serie) | (c) | Full early redemption of the 5th issue of the Company’s trade promissory notes and partial payment of the 2nd amortization installment of the 2nd issue of debentures. | 07.15.2019 | 2 | 07.15.2024 | Half-yearly | 109.0% of DI | 111.25% of DI | 800,000 | 818,406 | -
6th (2nd serie) | Reimbursement of expenses related to the Colíder HPP and Baixo Iguaçu HPP projects | 07.15.2019 | 1 | 07.15.2025 | Half-yearly | IPCA + 3.90% | IPCA+ 4.46% | 200,000 | 205,677 | -
Copel DIS | 2nd | (a) | Working capital or used to make investments in the issuer. | Personal guarantee | 10.27.2016 | 2 | 10.27.2019 | Annual | 124.0% of DI | 130.37% of DI | 500,000 | - | 253,226
3rd | 10.20.2017 | 2 | 10.20.2022 | Half-yearly | 126.0% of DI | 130.85% of DI | 500,000 | 505,846 | 507,342
4th | Working capital and payment of the 1st installment of amortization of the 2nd issue of debentures. | 09.27.2018 | 3 | 09.27.2023 | Half-yearly | DI + spread 2.70% | CDI + 3.96% | 1,000,000 | 1,019,626 | 1,020,260
5th (serie 1) | (c) | Investment for expansion, renovation or improvement and reimbursement of expenses of the Issuer's electricity distribution network linked to concession contract No. 46/1999 of ANEEL. | 11.15.2019 | 3 | 11.15.2027 | Half-yearly | IPCA + 4.20% p.a. | IPCA+ 4.61% p.a. | 500,000 | 506,180 | -
5th (serie 1) | Reinforcement of working capital and recomposition of cash by the final amortization of the 2nd issue of debentures. | 11.15.2019 | 2 | 11.15.2027 | Half-yearly | DI + spread 1.45% | CDI + 1.65% | 350,000 | 351,914 | -
Copel CTE | 1st | (a) | Deployment, expansion and modernization of the telecommunication network. | Personal guarantee | 10.15.2015 | 5 | 10.15.2024 | Half-yearly | IPCA + 7.9633% | IPCA+ 8.1073% | 160,000 | 195,429 | 188,278
2nd | 07.15.2017 | 1 | 07.15.2022 | Half-yearly | IPCA + 5.4329% | IPCA+ 6.1036% | 220,000 | 246,355 | 237,214
3rd | Investments in the issuer. | 05.15.2019 | 3 | 05.15.2024 | Half-yearly | 117.0% of DI | 119.58% of DI | 210,000 | 211,348 | -
Brisa Potiguar | 2nd (1st serie) | (d) | Implementation of wind generating plants. | Real and personal guarantee and pledge of Copel GeT shares. | 03.24.2016 | 192 | 07.15.2032 | Monthly | TJLP + 2.02% | TJLP + 2.02% | 147,575 | 119,171 | 128,242
2nd (2nd serie) | 03.24.2016 | 192 | 07.15.2032 | Monthly | IPCA + 9.87% | IPCA+ 10.92% | 153,258 | 135,657 | 141,069
Cutia | 1st | (b) | Construction and implementation of wind generating plants. | Personal guarantee | 03.20.2019 | 26 | 12.15.2031 | Half-yearly | IPCA + 5.8813% | IPCA+ 6.83% | 360,000 | 352,829 | -
Compagás | 2nd | (e) | Issuer's investment plan fund. | Floating | 04.15.2016 | 54 | 12.15.2021 | Quarterly | TJLP + 2.17% | TJLP + 2.17% | 33,620 | 6,001 | 8,973
SELIC + 2.17% | SELIC + 2.17% | - | 5,782 | 8,678
3rd | (f) | Issuer's investment plan fund. | Real | 12.17.2019 | 18 | 06.28.2021 | Monthly | DI + Spread 0.88% p.a. | 5.68% p.a. | 43,000 | 44,746 | -
|  |  |  |  |  |  |  |  |  |  | Gross debt | 8,540,366 | 7,592,904
|  |  |  |  |  |  |  |  |  |  | (-) Transaction cost | (110,656) | (74,773)
|  |  |  |  |  |  |  |  |  |  | Net debt | 8,429,710 | 7,518,131
|  |  |  |  |  |  |  |  |  |  | Current | 1,164,301 | 2,184,881
|  |  |  |  |  |  |  |  |  |  | Noncurrent | 7,265,409 | 5,333,250
(a) Simple debentures, single series, not convertible into shares, unsecured, for public distribution with restricted placement efforts, according to CVM No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.
(b) Simple debentures, single series, not convertible into shares, with security interest and additional personal guarantee, for public distribution with restricted efforts, pursuant to CVM Instruction No. 476.
Guarantor: Copel. Trustee: Pentágono S.A. DTVM.
(c) Simple debentures, two series, not convertible into shares, unsecured, for public distribution with restricted placement efforts, according to CVM No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.
(d) Simple debentures, two series, not convertible into shares, issued privately. Companies: Nova Asa Branca I, Nova Asa Branca II, Nova Asa Branca III, Nova Eurus e Ventos de Santo Uriel. Guarantor: Copel. They have no trustee.
(e) Simple registered debentures, single series, with private issue and exclusive placement by BNDESPAR. Guarantor: Compagás. Trustee: BNDES Participações S.A. BNDESPAR.
(f) Simple and registered debentures, with a single series, in private issue, with public distribution of restricted efforts. Guarantor: Compagás. Trustee: Simplific Pavarini DTVM Ltda.
Schedule of maturity of noncurrent installments | 22.1 Maturity of noncurrent installments
12.31.2019 | Gross debt | (-) Transaction cost | Net debt
2021 | 1,851,659 | (20,991) | 1,830,668
2022 | 2,393,255 | (20,900) | 2,372,355
2023 | 1,290,978 | (13,143) | 1,277,835
2024 | 640,764 | (7,438) | 633,326
2025 | 478,666 | (5,505) | 473,161
After 2025 | 694,561 | (16,497) | 678,064
| 7,349,883 | (84,474) | 7,265,409
Schedule of changes in debentures | 22.2 Changes in debentures
Balance as of January 1, 2018 | 6,070,978
Funding | 2,890,283
Charges and monetary variations | 549,539
Amortization - principal | (1,491,667)
Payment - charges | (501,002)
Balance as of December 31, 2018 | 7,518,131
Funding | 2,965,028
Charges and monetary variations | 623,795
Amortization - principal | (1,977,125)
Payment - charges | (700,119)
Balance as of December 31, 2019 | 8,429,710
Schedule of financial covenants | The financial covenants contained in the agreements are presented as follows:
Company | Contract | Annual financial index | Limit
Copel | 7th issue of Debentures | Consolidated net debt / Consolidated EBITDA Debt service coverage ratio | ≤ 3.5 ≥ 1.5
8th issue of Debentures
Copel GeT | 1st issue of Debentures
3rd issue of Debentures
4th issue of Debentures
5th issue of Debentures
6th issue of Debentures
Copel DIS | 3rd issue of Debentures
4th issue of Debentures
5th issue of Debentures
Copel TEL | 1st issue of Debentures
2nd issue of Debentures
3rd issue of Debentures
Compagás | 2nd issue of Debentures | Net debt / EBTIDA General Indebtedness | ≤ 3.5 ≤ 0.7
3rd issue of Debentures | Net debt / EBTIDA | ≤ 3.5
Nova Asa Branca I |  | Debt service coverage ratio | ≥ 1.3
Nova Asa Branca II |
Nova Asa Branca III | 2nd issue of Debentures
Nova Eurus IV |
Ventos de Santo Uriel |
Cutia | 1st issue of Debentures | Debt service coverage ratio (a) | ≥ 1.2
(a) financial ratio calculated based on the amounts of the consolidated financial statements of Cutia Empreendimentos Eólicos S.A.

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