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Loans and Debentures (Tables) | 12 Months Ended
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Dec. 31, 2024
Loans And Debentures |
Schedule of Loans and Debentures |
(1) | Cemig Geração e Transmissão;
(2) | Advance of funds to achieve the yield to maturity agreed in the Eurobonds contract;
(3) | Cemig Distribuição;
(4) | Debentures issued by Gasmig.
(5) | Discount on the sale price of the 2nd series of the Seventh issue of Cemig Distribuição.
|  | Entry Date |  | Principal maturity |  | Annual financial cost |  | Value
BRAZILIAN CURRENCY |  |  |  |  |  |  |  |
Debentures – 11th Issue – 1st Series |  | September, 2024 |  | 2031 |  | CDI + 0.55% |  | 1,000
Debentures – 11th Issue – 2nd Series |  | September, 2024 |  | 2036 |  | IPCA + 6.5769% |  | 1,500
(-) Transaction costs |  |  |  |  |  |  |  | (64)
Total |  |  |  |  |  |  |  | 2,436
Schedule of Debentures Issued |
Series | Quantity | Amount | Remuneration | Maturity | Amortization
First Series | 1,000,000 | R$1,000,000 | CDI + 0.55% | 7 years | 72 th e 84 th months
Second Series | 1,500,000 | R$1,500,000 | IPCA + 6.5769% | 12 years | 132 th e 144 th months
Series | Quantity | Amount | Remuneration | Maturity | Amortization
Single | 200,000 | R$200 | CDI + 0.47% | 5 years | 36 th , 48 th e 60 th months
Schedule of Credit Risk Rating Agency |
Financing source | Entry Date |  | Principal maturity |  | Annual financial cost |  | Value
BRAZILIAN CURRENCY |  |  |  |  |  |  |
Debentures – 9th Issue – Single Series | December, 2024 |  | 2029 |  | CDI + 0.47% |  | 200
Total |  |  |  |  |  |  | 200
Schedule of Guarantees of the Debtor Balance on Loans and Financings | The guarantees of the debt balance on loans and debentures, on December 31, 2024, were as follows:
|  | Dec. 31, 2024
Promissory notes and sureties |  | 334
Guarantee and receivables |  | 2,042
Sureties |  | 8,694
Unsecured |  | 1,210
Total |  | 12,280
Schedule of Composition of Loans and Debentures | The company's debt has an average repayment period of 2.8 years. The consolidated breakdown of loans and debentures, by currency and index, considering their maturities, is as follows:
| 2025 |  | 2026 |  | 2027 |  | 2028 |  | 2029 |  | 2030 onwards |  | Total
Index |  |  |  |  |  |  |  |  |  |  |  |  |
IPCA (1) | 1,571 |  | 1,155 |  | 139 |  | 423 |  | 761 |  | 3,498 |  | 7,547
CDI (2) | 1,315 |  | 1,233 |  | 800 |  | 300 |  | 233 |  | 1,000 |  | 4,881
Total by index | 2,886 |  | 2,388 |  | 939 |  | 723 |  | 994 |  | 4,498 |  | 12,428
(-) Transaction costs | (7) |  | (7) |  | (4) |  | (11) |  | (12) |  | (105) |  | (146)
(-) Discount | (3) |  | - |  | (3) |  | - |  | - |  | - |  | (6)
Overall total | 2,876 |  | 2,381 |  | 932 |  | 712 |  | 982 |  | 4,393 |  | 12,276
(1) | Expanded National Customer Price (IPCA) Index.
(2) | CDI: Interbank Rate for Certificates of Deposit.
Schedule of the Principal Currencies and Indexors Used for Monetary Updating of Loans and Financings | The index used for monetary updating of Loans and debentures had the following variations:
Indexer |  | Accumulated change on 2024 (%) |  | Accumulated change on 2023 (%)
IPCA |  |  | 4.83 |  |  | 4.62
CDI |  |  | 10.83 |  |  | 13.04
Schedule of Changes in Loans, Financings and Debentures | The changes in loans and debentures are as follows:
Balance at December 31, 2021 |  | 11,364
Loans and financing obtained |  | 2,000
Transaction costs |  | (19)
Financing obtained, net |  | 1,981
Monetary variation |  | 167
Exchange rate variation |  | (338)
Accrued financial charges |  | 975
Premium on repurchase of debt securities (Eurobonds) |  | 47
Amortization of transaction cost |  | 7
Financial charges paid |  | (1,010)
Amortization of financing |  | (2,613)
Balance at December 31, 2022 |  | 10,580
Loans and financing obtained |  | 2,000
Transaction costs |  | (12)
Financing obtained, net |  | 1,988
Monetary variation |  | 148
Exchange rate variation |  | (277)
Accrued financial charges |  | 1,083
Amortization of transaction cost |  | 14
Financial charges paid |  | (1,026)
Amortization of financing |  | (2,679)
Balance at December 31, 2023 |  | 9,831
Loans and financing obtained |  | 4,700
Transaction costs |  | (118)
Financing obtained, net |  | 4,582
Monetary variation |  | 248
Exchange rate variation |  | 464
Accrued financial charges |  | 1,066
Amortization of transaction cost |  | 20
Financial charges paid |  | (956)
Amortization of financing |  | (2,975)
Balance at December 31, 2024 |  | 12,280
Schedule of Capitalized Borrowing Cost | The subsidiaries CEMIG D and Gasmig considered the costs of loans and debentures linked to construction in progress as construction costs of intangible and concession contract assets, as follows:
|  | 2024 |  | 2023 |  | 2022
Costs of loans and financing |  | 1,066 |  | 1,083 |  | 975
Financing costs on intangible assets and contract assets (1) |  | (77) |  | (70) |  | (47)
Net effect in Profit or loss |  | 989 |  | 1,013 |  | 928
(1) | The average capitalization rate in 2024 was 11.13% (11.75% in 2023).
Schedule of Restrictive Covenants | The Company has contracts with financial covenants as follows:
Title - Security |  | Covenant |  | Ratio required - Issuer |  | Ratio required CEMIG (guarantor) |  | Compliance required
8th Debentures Issuance Gasmig |  | Ebitda/Debt servicing Net debt / Ebitda (2) |  | 1.3 or more 3.0 or less |  | - |  | Annual Annual
9th Debentures Issuance Gasmig |  | Ebitda/Net financial income 'Net debt / Ebitda |  | 1.3 or more 3.0 or less |  | - |  | Annual
9th Debenture Issue CEMIG GT (3) |  | Net debt / Adjusted Ebitda (1) |  | 3.5 or less |  | 3.0 from Dec. 31, 2022 to June 30, 2026 and 3.5 from Dec. 31, 2026 onwards |  | Semi-annual and annual
7th and 8th Debentures Issuance CEMIG D |  | Net debt / Adjusted Ebitda (1) |  | 3.5 or less |  | 3.0 or less |  | Semi-annual and annual
9th Debentures Issuance CEMIG D |  | Net debt / Ebitda |  | 3.5 or less |  | 3.0 or less |  | Semi-annual and annual
10th Debentures Issue CEMIG D |  | Net debt / Ebitda |  | 3.5 or less from June 30, 2024 to June 30, 2029 4.0 or less from June 30, 2029 onwards |  | 3.0 or less up to June 30, 2026 3.5 or less from July 1, 2026 to June 30, 2029 4.0 or less from June 30, 2029 onwards |  | Semi-annual and annual
11th Debentures Issue CEMIG D |  | Net debt / Ebitda |  | 3.5 or less from December 31, 2024 to June 30, 2029 4.0 or less from June 30, 2029 onwards |  | 3.0 or less up to June 30, 2026 3.5 or less from July 1, 2026 to June 30, 2029 4.0 or less from June 30, 2029 onwards |  | Semi-annual and annual
(1) | Adjusted Ebitda 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 Ebitda 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) | 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.

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