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22 Debentures (Tables)
12 Months Ended
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.