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Debentures (Tables) | 12 Months Ended
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Dec. 31, 2023
Debentures |
Schedule of debentures |
Schedule of debentures |  |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  |  |  |  | Contractual | Effective |  | 12.31.2023 | 12.31.2022
|  |  |  |  | Issue | Number of | Final | Payment | financial | interest | Contract
Company | Issue | Characteristics | Allocation | Guarantees | Date | installment | maturity | of charges | charges p.a. | rate p.a. | amount
Copel GeT | 4th | (a) | 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. | Personal guarantee | 07.23.2018 | 3 | 07.23.2023 | Half-yearly | 126.0% of DI | 133.77% of DI | 1,000,000 | - | 357,573
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 | 157,327 | 225,643
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 | 424,292 | 852,816
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 | 263,113 | 251,363
7th (1st serie) | Reinforcement of the Issuer's working capital; amortization and/or reimbursement of cash of the principal portion of the 3rd and 4th issue of debentures. | 10.15.2021 | 2 | 10.15.2026 | Half-yearly | DI + spread 1.38% | DI + spread 1.45% | 1,133,363 | 1,163,255 | 1,166,982
7th (2nd serie) | Investments for expansion, renovation or improvement and/or reimbursement of expenses within the scope of the Projects: Improvements of Gov. Bento Munhoz da Rocha Netto HPP; Implementation of the Assets of Lot “E”, from Aneel Auction No. 05/2015; Investments in Mata de Santa Genebra Transmissão S.A. and Bela Vista Geração de Energia S.A. | 10.15.2021 | 3 | 10.15.2031 | Half-yearly | IPCA + 5.7138% | IPCA + 6.1033% | 366,637 | 416,456 | 397,825
8th (1st serie) | Acquisition of Santa Rosa & Mundo Novo Wind Complex (SRMN) and Aventura Wind Complexes. | 01.15.2023 | 2 | 01.15.2030 | Half-yearly | DI + spread 1.40% | DI + spread 1.41% | 1,100,000 | 1,168,465 | -
8th (2nd serie) | Reimbursement of investment expenses and/or contributions in the scope of the Jandaíras I, II, III and IV Wind Power Generating Plants Projects. | 01.15.2023 | 3 | 01.15.2035 | Half-yearly | IPCA +6.8226% | IPCA +7.5817% | 200,000 | 214,426 | -
Copel DIS | 4th | (a) | Working capital and payment of the 1st installment of amortization of the 2nd issue of debentures. | Personal guarantee | 09.27.2018 | 3 | 09.27.2023 | Half-yearly | DI + spread 2.70% | CDI + 3.96% | 1,000,000 | - | 346,895
5th (1st serie) | (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% | IPCA+ 4.61% | 500,000 | 647,092 | 618,209
6th (1st serie) | Reinforcement of working capital and amortization of the first installment of the principal of the debentures of each of the Issuer's following issues: 3rd, 4th and 5th Issue. | 06.16.2021 | 2 | 06.15.2026 | Half-yearly | CDI + 1.95% | CDI + 2.02% | 1,000,000 | 1,004,566 | 1,006,449
6th (2nd serie) | 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. | 06.16.2021 | 3 | 06.15.2031 | Half-yearly | IPCA + 4.7742% | IPCA + 5.1564% | 500,000 | 585,696 | 559,894
7th (1st serie) | (e) | Reinforcement of working capital; redemption of 3rd issue debentures; amortization of the 2nd installment of the principal of the 4th and 5th issuance. | 05.15.2022 | 2 | 05.15.2025 | Half-yearly | CDI + 1.21% | CDI + 1.28% | 300,000 | 304,505 | 305,380
7th (2nd serie) | 05.15.2022 | 2 | 05.15.2027 | Half-yearly | CDI + 1.36% | CDI + 1.42% | 901,450 | 915,148 | 917,789
7th (3rd serie) | Investments for expansion, renovation or improvement and/or reimbursement of expenses of the issuer's electricity distribution network, linked to Aneel's Concession Agreement No. 46/1999. | 05.15.2022 | 3 | 05.15.2032 | Half-yearly | IPCA + 6.1732% | IPCA + 6.6587% | 298,550 | 315,816 | 301,830
8th (1st serie) | (e) | Exclusively for cash reinforcement to meet the Issuer commitments. | 06.15.2023 | 1 | 06.15.2024 | Half-yearly | CDI + 1.45% | CDI + 1.89% | 400,000 | 401,784 | -
8th (2nd serie) | Exclusively for amortization of principal and interest due under the Private Deed of the 4th Issue of Debentures, and the remaining amount, if any, for cash reinforcement to meet the Issuer commitments. | 06.15.2023 | 2 | 06.15.2027 | Half-yearly | CDI + 2.00% | CDI + 2.14% | 800,000 | 803,723 | -
8th (3rd serie) | Exclusively for cash reinforcement to meet the Issuer commitments. | 06.15.2023 | 1 | 06.15.2028 | Half-yearly | CDI + 2.25% | CDI + 2.35% | 400,000 | 401,897 | -
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 | 82,744 | 91,468
2nd (2nd serie) | 03.24.2016 | 192 | 07.15.2032 | Monthly | IPCA + 9.87% | IPCA+ 10.92% | 153,258 | 118,146 | 126,067
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 | 349,555 | 360,894
|  |  |  |  |  |  |  |  |  |  | Gross debt | 9,738,006 | 7,887,077
|  |  |  |  |  |  |  |  |  | (-) Transaction cost | (118,900) | (83,222)
|  |  |  |  |  |  |  |  |  |  | Net debt | 9,619,106 | 7,803,855
|  |  |  |  |  |  |  |  |  |  | Current | 1,225,649 | 1,346,347
|  |  |  |  |  |  |  |  |  |  | Noncurrent | 8,393,457 | 6,457,508
| (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 and Ventos de Santo Uriel. Guarantor: Copel. They have no trustee.
| (e) | Simple debentures, three series, not convertible into shares, unsecured, with additional personal guarantee, for public distribution with restricted placement efforts, pursuant to CVM Instruction No. 476. Guarantor: Copel. Trustee: Pentágono S.A. DTVM.
Schedule of maturity of noncurrent installments |
Schedule of maturity of noncurrent installments |  |  |
12.31.2023 | Gross debt | (-) Transaction cost | Net debt
2025 | 1,825,412 | (25,529) | 1,799,883
2026 | 2,202,198 | (19,105) | 2,183,093
2027 | 1,130,834 | (11,413) | 1,119,421
2028 | 465,465 | (8,281) | 457,184
2029 | 954,663 | (8,115) | 946,548
After 2029 | 1,903,983 | (16,655) | 1,887,328
| 8,482,555 | (89,098) | 8,393,457
Schedule of changes in debentures |
Schedule of changes in debentures |  |  |
| Continuing operations | Discontinued operations | Total
Balance as of January 1, 2021 | 6,737,229 | 20,252 | 6,757,481
Funding | 3,000,000 | - | 3,000,000
(-) Transaction costs | (35,030) | - | (35,030)
Charges and monetary variations | 620,751 | 37,902 | 658,653
Amortization - principal | (1,831,809) | (20,239) | (1,852,048)
Payment - charges | (343,524) | (17,549) | (361,073)
Reclassification - held for sale - Copel Telecomunicações | - | (20,366) | (20,366)
Balance as of December 31, 2021 | 8,147,617 | - | 8,147,617
Funding | 1,500,000 | - | 1,500,000
(-) Transaction costs | (14,445) | - | (14,445)
Charges and monetary variations | 1,112,287 | - | 1,112,287
Amortization - principal | (2,051,481) | - | (2,051,481)
Payment - charges | (890,123) | - | (890,123)
Balance as of December 31, 2022 | 7,803,855 | - | 7,803,855
Funding | 2,900,000 | 295,000 | 3,195,000
(-) Transaction costs (a) | (60,677) | (955) | (61,632)
Charges and monetary variations | 1,297,445 | 19,017 | 1,316,462
Amortization - principal | (1,193,910) | (18,437) | (1,212,347)
Payment - charges | (1,127,607) | (10,423) | (1,138,030)
Reclassification (b) | - | (284,202) | (284,202)
Balance as of December 31, 2023 | 9,619,106 | - | 9,619,106
(a) Includes the amount of R$41,788 relating to financial consideration (waiver) paid as a result of the process of transforming Copel into a Corporation, as detailed in Note 21.3.
(b) Reclassification to Liabilities classified as held for sale (Note 39).
Schedule of financial covenants |
Schedule of financial covenants |  |  |
Company | Contractual Instrument | Annual financial ratio | Limit
Copel GeT | 5th issue of Debentures | Consolidated net debt / Consolidated EBITDA Debt service coverage ratio | ≤ 3.5 ≥ 1.5
6th issue of Debentures
7th issue of Debentures
8th issue of Debentures
Copel DIS | 5th issue of Debentures
| 6th issue of Debentures
| 7th issue of Debentures
| 8th issue of Debentures
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. The contract establishes that, should the index be in the range between 1.10 and 1.20, the value of the funds invested in the Reserve Account must be complemented so that the total reaches the index of 1.20, within 2 days of the release of the financial statements.

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