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v3.22.1

Loans and Financing | 12 Months Ended
--- | ---
Dec. 31, 2021
Loans and Financing |
22. | Loans and Financing
Schedule of borrowings
|  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2021 | 12.31.2020
|  |  |  | 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 (22.1). | 05.20.1998 | 1 | 04.11.2024 | Half-yearly | 6.0% + 0.20% | 6.0% + 0.20% | 17,315 | 89,058 | 82,933
Discount Bond | 05.20.1998 | 1 | 04.11.2024 | Half-yearly | 1.0625% + 0.20% | 1.0625% + 0.20% | 12,082 | 61,514 | 57,404
Total foreign currency |  |  |  |  |  |  |  |  |  |  | 150,572 | 140,337
LOCAL CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
Banco do Brasil |  |  |  |  |  |  |  |  |  |  |  |
CCB 306.401.381 (a) | Copel HOL | Working capital. | Credit assignment | 07.21.2015 | 2 | 03.25.2023 | Quarterly | 135.00% of DI | 145.46% of DI | 640,005 | 641,207 | 640,177
|  |  |  |  |  |  |  |  |  |  | 641,207 | 640,177
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 | 9,580 | 11,496
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
|  |  |  |  |  |  |  |  |  |  | 9,580 | 11,661
Banco do Nordeste do Brasil |  |  |  |  |  |  |  |  |  |  |  |
35202166127989 | Jandaíra I | Implementation of Jandaíra complex wind. | Bank guarantee | 05.31.2021 | 192 | 06.15.2038 | Monthly | 2.7086% + IPCA (1) | 3.0107% + IPCA | 21,687 | 7,312 | -
35202164527986 | Jandaíra II | 05.31.2021 | 192 | 06.15.2038 | Monthly | 2.7086% + IPCA (1) | 3.0107% + IPCA | 56,421 | 18,424 | -
35202162927987 | Jandaíra III | 05.31.2021 | 192 | 06.15.2038 | Monthly | 2.7086% + IPCA (1) | 3.0107% + IPCA | 65,158 | 21,645 | -
35202160027984 | Jandaíra IV | 05.31.2021 | 192 | 06.15.2038 | Monthly | 2.7086% + IPCA (1) | 3.0107% + IPCA | 65,421 | 22,058 | -
35201915725525 | Potiguar B141 | Implementation of Vilas complex wind. | Fiduciary assignment of credit rights; fiduciary assignment of rights under the O&M contract; fiduciary assignment of rights arising from the authorization; pledge of shares; fiduciary alienation of project machinery and equipment; 100% bank guarantee; fiduciary assignment of the Debt Service Reserve Accounts; fiduciary assignment of the operating reserve account (O&M); Shareholder support agreement | 04.04.2019 | 216 | 04.15.2039 | Monthly | IPCA + 2.3323% p.y. | IPCA + 2.3323% p.y. | 92,138 | 94,781 | -
35201922425522 | Potiguar B142 | 04.04.2019 | 216 | 04.15.2039 | Monthly | IPCA + 2.3323% p.y. | IPCA + 2.3323% p.y. | 92,213 | 94,809 | -
35201926525533 | Potiguar B143 | 04.11.2019 | 216 | 04.15.2039 | Monthly | IPCA + 2.3323% p.y. | IPCA + 2.3323% p.y. | 92,138 | 94,453 | -
35201910625534 | Ventos de Vila Paraíba IV | 04.18.2019 | 216 | 05.15.2039 | Monthly | IPCA + 2.3323% p.y. | IPCA + 2.3323% p.y. | 92,138 | 96,237 | -
352020148727169 | Potiguar B61 | 08.11.2020 | 216 | 08.15.2040 | Monthly | IPCA + 1.4865% p.y. | IPCA + 1.4865% p.y. | 163,886 | 176,324 | -
|  |  |  |  |  |  |  |  |  |  | 626,043 | -
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 | 72,109 | 83,936
|  |  |  |  |  |  |  |  |  |  | 72,109 | 83,936
(a) Debt renegotiated in March 2021, with changes in the amortization dates and the amount of financial charges.
(1) - IPCA used in the calculation of interest and not in updating the principal.
(continued)
|  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2021 | 12.31.2020
|  |  |  | 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 | 72,109 | 83,935
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 | 14,431 | 17,756
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 | 36,593 | 41,405
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 | 680,413 | 748,083
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 | 8,758 | 10,069
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 | 18,151 | 20,280
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 | 10,822 | 12,171
18205101 | Implementation of Baixo Iguaçu HPP. | 11.22.2018 | 192 | 06.15.2035 | Monthly | 1.94% above TJLP | 8.5% | 194,000 | 171,447 | 184,087
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 | 185,532 | 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 | 162,773 | 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
14205611-B | 12.15.2014 | 6 | 02.15.2021 | Annual | 2.09 above TR BNDES | 2.09 above TR BNDES | 17,821 | - | 4,329
14205611-C | 12.15.2014 | 113 | 06.15.2024 | Monthly | 6.0% | 6.0% | 78,921 | 19,595 | 27,434
14205611-D | 12.15.2014 | 57 | 02.15.2021 | Monthly | TJLP | TJLP | 750 | - | 2
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 | 37,771 | 41,665
14.2.1272.1 | Santa Helena | 06.01.2015 | 192 | 08.15.2031 | Monthly | 1.66% above TJLP | 8.26% | 82,973 | 40,983 | 45,208
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 | 33,570 | 37,470
11211531 | GE Boa Vista | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 40,050 | 24,818 | 27,701
11211541 | GE S.B. do Norte | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 90,900 | 56,287 | 62,824
11211551 | GE Olho D’Água | 03.19.2012 | 192 | 06.15.2030 | Monthly | 2.34% above TJLP | 2.34% above TJLP | 97,000 | 60,113 | 67,096
18204611 | Cutia | Pledge of shares; assignment of receivables. | 10.10.2018 | 192 | 07.15.2035 | Monthly | 2.04% above TJLP | 8.37% | 619,405 | 563,569 | 588,169
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 | 14,898 | 17,046
13212221 - B | 12.03.2013 | 106 | 09.30.2023 | Monthly | 3.5% | 3.5% | 9,086 | 1,396 | 2,194
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 | 19,444 | 22,029
14205851 - B | 07.08.2014 | 106 | 04.30.2024 | Monthly | 6.0% | 6.0% | 21,577 | 5,285 | 7,550
|  |  |  |  |  |  |  |  |  |  | 2,238,758 | 2,338,138
Total local currency |  |  |  |  |  |  |  |  |  |  | 3,587,697 | 3,073,912
|  |  |  |  |  |  |  |  |  | Gross debt | 3,738,269 | 3,214,249
|  |  |  |  |  |  | (-) Transaction cost | (59,825) | (25,718)
|  |  |  |  |  |  |  |  |  | Net debt | 3,678,444 | 3,188,531
|  |  |  |  |  |  |  |  |  | Current | 579,770 | 717,677
|  |  |  |  |  |  |  |  |  | Noncurrent | 3,098,674 | 2,470,854
DI - Interbank Deposit Rate
IPCA - Inflation Index (Índice Nacional de Preços ao Consumidor Amplo, in Portuguese)
22.1 | Collateral and Escrow deposits– STN
Recognition of guarantees, in the form of a cash guarantee, Par Bond, in the amount of R$84,163 (R$78,764 at December 31, 2020), and Discount Bond, in the amount of R$58,601 (R$54,757 at December 31, 2020) 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, recognized pursuant to the Brazilian Financing Plan of 1992. According to Note 15.2, the loan was paid on March 10, 2022.
22.2 | Breakdown of loans and financing by currency and index
|  | 12.31.2021 | % | 12.31.2020 | %
Foreign currency - change in currencies in the period (%) |  |  |  |
U.S. Dollar | 7.39 | 150,572 | 4.09 | 140,337 | 4.40
|  | 150,572 | 4.09 | 140,337 | 4.40
Local currency - indexes at period end (%) |  |  |  |  |
TJLP | 5.32 | 1,916,561 | 52.11 | 2,090,340 | 65.56
CDI | 9.15 | 639,555 | 17.39 | 638,431 | 20.02
IPCA | 10.06 | 935,900 | 25.44 | 270,749 | 8.49
Without indexer (annual fixed rate) | - | 35,856 | 0.97 | 48,674 | 1.53
|  | 3,527,872 | 95.91 | 3,048,194 | 95.60
|  | 3,678,444 | 100.00 | 3,188,531 | 100.00
22.3 | Maturity of noncurrent installments
Schedule of maturity of noncurrent installments
12.31.2021 | Gross debt | (-) Transaction cost | Net debt
2023 | 565,417 | (3,852) | 561,565
2024 | 391,018 | (3,554) | 387,464
2025 | 239,612 | (3,550) | 236,062
2026 | 240,120 | (3,553) | 236,567
2027 | 240,037 | (3,552) | 236,485
After 2027 | 1,477,704 | (37,173) | 1,440,531
| 3,153,908 | (55,234) | 3,098,674
22.4 | Changes in loans and financing
Schedule of changes in debentures
| Foreign currency | Local currency | Total
Balance as of January 1, 2020 | 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
Effect of acquisition of control of Vilas Complex | - | 514,272 | 514,272
Funding | - | 134,313 | 134,313
(-) Transaction costs | - | (1,647) | (1,647)
Charges | 6,218 | 191,398 | 197,616
Monetary and exchange variations | 10,266 | 31,091 | 41,357
Amortization - principal | - | (202,577) | (202,577)
Payment - charges | (6,249) | (187,172) | (193,421)
Balance as of December 31, 2021 | 150,572 | 3,527,872 | 3,678,444
22.5 | 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, 2021, all ratios and covenants have been fully met. The financial covenants contained in the agreements are presented below:
Company | Contract | Annual financial ratios | 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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