XML 160 R146.htm IDEA: XBRL DOCUMENT v3.23.2
LOANS AND DEBENTURES (Details 9)
12 Months Ended
Dec. 31, 2022
Debentures Issue [Member]  
IfrsStatementLineItems [Line Items]  
Title Eurobonds [1]
Covenant Net debt / Adjusted Ebitda for the Covenant [1],[2]
Ratio required Issuer 2.5 or less [1]
Ratio required cemig 3.0 or less [1]
Compliance required Semi-annual and annual [1]
Debentures Issue 1 [Member]  
IfrsStatementLineItems [Line Items]  
Title 7th and 8th Debentures Issuance
Covenant Net debt / Adjusted Ebitda
Ratio required Issuer 3.5 or less
Debentures Issue 2 [Member]  
IfrsStatementLineItems [Line Items]  
Title Gasmig Debentures (2)
Covenant Ebitda / Debt servicing
Ratio required Issuer 1.3 or more
Compliance required Annual
Debentures Issue 5 [Member]  
IfrsStatementLineItems [Line Items]  
Covenant General indebtedness (Total liabilities/Total assets)
Ratio required Issuer Less than 0.6
Compliance required Annual
Debentures Issue 6 [Member]  
IfrsStatementLineItems [Line Items]  
Covenant Ebitda / Net finance results [3]
Ratio required Issuer 2.5 or more [3]
Compliance required Annual [3]
Debentures Issue 7 [Member]  
IfrsStatementLineItems [Line Items]  
Covenant Net debt / Ebitda
Ratio required Issuer The following or less:
Compliance required Annual
Debentures Issue 3 [Member]  
IfrsStatementLineItems [Line Items]  
Title 8th Debentures Issuance
Covenant Ebitda/Debt servicing
Ratio required Issuer 1.3 or more
Compliance required Annual
Debentures Issue 8 [Member]  
IfrsStatementLineItems [Line Items]  
Covenant Net debt/EBITDA
Ratio required Issuer 3.0 or less
Compliance required Annual
Debentures Issue 4 [Member]  
IfrsStatementLineItems [Line Items]  
Title 9th Debenture Issue
Covenant Net debt / Adjusted Ebitda [4]
Ratio required Issuer 3.5 or less [4]
Ratio required cemig 3.0 from Dec. 31st, 2022 to Jun. 30th, 2026 and, [4]
Compliance required Semi-annual and annual [4]
[1] Adjusted Ebtida corresponds to earnings before interest, income taxes and social contribution on net income, depreciation and amortization, calculated in accordance with CVM Resolution 156, dated June 23, 2022, from which non-operating income, any credits and non-cash gains that increase net income are subtracted, to the extent that they are non-recurring, and any cash payments made on a consolidated basis during such period in respect of non-cash charges that were added back in the determination of Ebtida in any prior period, and increased by non-cash expenses and non-cash charges, to the extent that they are non-recurring.
[2] Non-compliance with financial covenants implies non-automatic early maturity. If early maturity is declared by the debenture holders, Gasmig must make the payment upon receipt of the notification.
[3] If Gasmig is unable to achieve the required index, it will, within 120 days from the date of written notice from BNDESPAR or BNDES, provide guarantees acceptable to the debenture holders for the total amount of the debt, in compliance with the rules of the National Monetary Council, unless the required indexes are reestablished within that period. Certain contractually foreseen situations may cause early maturity of other debts (cross default).
[4] Non-compliance with financial covenants implies early maturity resulting in the immediate enforceability of payment by CEMIG GT of the Unit Nominal Value or Updated Unit Nominal Value of the Debentures, as the case may be, plus remuneration, in addition to the other charges due, regardless of judicial or extrajudicial notice, notification or interpellation.