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21 Loans and Financing | 12 Months Ended
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Dec. 31, 2020
Loans And Financing [Abstract] |
Loans and Financing |
21 | Loans and Financing
|  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2020 | 12.31.2019
|  |  |  | 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 | 82,933 | 64,325
Discount Bond | 05.20.1998 | 1 | 04.11.2024 | Half-yearly | 2.8125% + 0,20% | 2.8125% + 0,20% | 12,082 | 57,404 | 44,658
Total foreign currency |  |  |  |  |  |  |  |  |  |  | 140,337 | 108,983
LOCAL CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
Banco do Brasil |  |  |  |  |  |  |  |  |  |  |  |
CCB 306.401.381 (a) | Copel HOL | Working Capital | Credit assigment | 12.19.2019 | 5 | 03.25.2022 | Quarterly | 120.00% of DI | 126.99% of DI | 640,005 | 640,177 | 640,530
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
|  |  |  |  |  |  |  |  |  |  | 640,177 | 679,976
Eletrobras |  |  |  |  |  |  |  |  |  |  |  |
983/95 |  | National Program for Watering - Proni. | Own revenue; issue of promissory notes and commercial duplicates. | 12.22.1994 | 80 | 11.15.2020 | Quarterly | 8.0% | 8.0% | 11 | - | 26
984/95 | 12.22.1994 | 80 | 11.15.2020 | Quarterly | 8.0% | 8.0% | 14 | - | 11
985/95 | 12.22.1994 | 80 | 08.15.2021 | Quarterly | 8.0% | 8.0% | 61 | - | 11
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
273/09 | 02.18.2010 | 120 | 12.30.2022 | Monthly | 5.0%+ 1.0% | 5.0%+ 1.0% | 63,944 | - | 4,933
|  |  |  |  |  |  |  |  |  |  | - | 10,934
Caixa Econômica Federal |  |  |  |  |  |  |  |  |  |  |  |
415.855-22/14 | Copel DIS | Rural Electricity Program - Luz para Todos. | Own revenue; issue of promissory notes and commercial duplicates. | 03.31.2015 | 120 | 12.08.2026 | Monthly | 6.0% | 6.0% | 16,984 | 11,496 | 13,410
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 | 165 | 331
|  |  |  |  |  |  |  |  |  |  | 11,661 | 13,741
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% | - | - | 2,626
21120105-00 | 07.17.2012 | 81 | 10.15.2020 | Monthly | 3.5% + TR | 3.88% + TR | - | - | 2,219
|  |  |  |  |  |  |  |  |  |  | - | 4,845
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 | 83,936 | 95,807
|  |  |  |  |  |  |  |  |  |  | 83,936 | 95,807
(a) On March 25, 2021, the debt was renegotiated, with the final maturity date being changed to March 25, 2023 and the amount of financial charges to 135% of the DI p.y.
|  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2020 | 12.31.2019
|  |  |  | 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 | 83,935 | 95,807
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 | 17,756 | 21,090
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 | 41,405 | 46,240
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 | 748,083 | 817,329
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 | 10,069 | 11,385
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 | 20,280 | 22,419
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 | 12,171 | 13,526
18205101 | Implementation of Baixo Iguaçu HPP. | 11.22.2018 | 192 | 06.15.2035 | Monthly | 1.94% above TJLP | 8.5% | 194,000 | 184,087 | 196,827
19207901- A+B+E+F+G+H | Implementation of transmission facilities for the line: substation Medianeira; substation Curitiba Centro and Curitiba Uberaba and substation Andirá Leste. | 06.03.2020 | 279 | 12.15.2043 | Monthly | IPCA + 4.8165% | IPCA + 4.8570% | 206,882 | 158,351 | -
19207901- C+D+I+J | Implementation of transmission facilities for the line: transmission line Curitiba Leste - Blumenal and Baixo Iguaçu - Realeza. | 06.03.2020 | 267 | 12.15.2043 | Monthly | IPCA + 4.8165% | IPCA + 4.8570% | 225,230 | 110,699 | -
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 | 585 | 7,611
14205611-B | 12.15.2014 | 6 | 02.15.2021 | Annual | 2.09 above TR BNDES | 2.09 above TR BNDES | 17,821 | 4,329 | 8,288
14205611-C | 12.15.2014 | 113 | 06.15.2024 | Monthly | 6.0% | 6.0% | 78,921 | 27,434 | 35,267
14205611-D | 12.15.2014 | 57 | 02.15.2021 | Monthly | TJLP | TJLP | 750 | 2 | 11
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 | 41,665 | 45,582
14.2.1272.1 | Santa Helena | 06.01.2015 | 192 | 08.15.2031 | Monthly | 1.66% above TJLP | 8.26% | 82,973 | 45,208 | 49,458
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 | 37,470 | 41,388
11211531 | GE Boa Vista | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 40,050 | 27,701 | 30,598
11211541 | GE S.B. do Norte | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 90,900 | 62,824 | 69,394
11211551 | GE Olho D'Água | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 97,000 | 67,096 | 74,112
18204611 | Cutia | Pledge of shares; assignment of receivables. | 10.25.2018 | 192 | 07.15.2035 | Monthly | 2.04% above TJLP | 8.37% | 619,405 | 588,169 | 611,457
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 | 17,046 | 19,203
13212221 - B | 12.03.2013 | 106 | 09.30.2023 | Monthly | 3.5% | 3.5% | 9,086 | 2,194 | 2,992
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 | 22,029 | 24,627
14205851 - B | 07.08.2014 | 106 | 04.30.2024 | Monthly | 6.0% | 6.0% | 21,577 | 7,550 | 9,813
|  |  |  |  |  |  |  |  |  |  | 2,338,138 | 2,254,424
Total local currency |  |  |  |  |  |  |  |  |  |  | 3,073,912 | 3,059,727
|  |  |  |  |  |  |  |  |  | Gross debt | 3,214,249 | 3,168,710
|  |  |  |  |  |  |  |  |  | (-) Transaction cost | (25,718) | (26,327)
|  |  |  |  |  |  |  |  |  | Net debt | 3,188,531 | 3,142,383
|  |  |  |  |  |  |  |  |  | Current | 717,677 | 255,521
|  |  |  |  |  |  |  |  |  | Noncurrent | 2,470,854 | 2,886,862
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$ 78,764 (R$ 57,968 at December 31, 2019), and Discount Bond, in the amount of R$ 54,757 (R$ 40,465 at December 31, 2019) 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
|  | 12.31.2020 | % | 12.31.2019 | %
Foreign currency - change in currencies in the period (%) |  |  |  |  |
U.S. Dollar | 28.93 | 140,337 | 4.40 | 108,983 | 3.47
|  | 140,337 | 4.40 | 108,983 | 3.47
Local currency - indexes at period end (%) |  |  |  |  |
TJLP | 4.55 | 2,090,340 | 65.58 | 2,271,187 | 72.30
CDI | 1.90 | 638,431 | 20.02 | 676,720 | 21.54
TR | 0.00 | - | - | 2,202 | 0.07
IPCA | 4.52 | 270,749 | 8.49 | 8,288 | 0.26
Without indexer (annual fixed rate) | - | 48,674 | 1.51 | 75,003 | 2.36
|  | 3,048,194 | 95.60 | 3,033,400 | 96.53
|  | 3,188,531 | 100.00 | 3,142,383 | 100.00
21.3 | Maturity of noncurrent installments
12.31.2020 | Gross debt | (-) Transaction cost | Net debt
2022 | 328,538 | (2,054) | 326,484
2023 | 202,249 | (1,732) | 200,517
2024 | 337,272 | (1,738) | 335,534
2025 | 195,764 | (1,735) | 194,029
2026 | 195,846 | (1,738) | 194,108
After 2026 | 1,233,752 | (13,570) | 1,220,182
| 2,493,421 | (22,567) | 2,470,854
21.4 | Changes in loans and financing
| Foreign currency | Local currency | Total
Balance as of January 1, 2019 | 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
Funding | - | 263,000 | 263,000
Charges | 6,928 | 176,337 | 183,265
Monetary and exchange variations | 31,189 | 5,869 | 37,058
Amortization - principal | - | (253,700) | (253,700)
Payment - charges | (6,763) | (176,712) | (183,475)
Balance as of December 31, 2020 | 140,337 | 3,048,194 | 3,188,531
(a) Reclassification to Assets classified as held for sale (Note 40). |  |  |
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. At December 31, 2020, all financial indicators measured annually and agreed commitments have been fully met. 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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