Rede, Celpa Bonds Tumble After Restructuring Plan Approved

Bonds issued by Rede Energia SA (REDE4) and its unit Centrais Eletricas do Para SA are falling after the subsidiary’s creditors approved a restructuring plan.

Rede’s perpetual bonds lost 5.89 cents since the plan was approved Sept. 1 to 29.33 cents on the dollar as of 1:09 p.m. in Sao Paulo. Centrais Eletricas do Para bonds due in 2016 dropped 11.5 cents to 16.83 cents on the dollar, according to data compiled by Bloomberg.

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