Form 6-K/A - Report of foreign issuer [Rules 13a-16 and 15d-16]: [Amend]
18 Juni 2024 - 11:08PM
Edgar (US Regulatory)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K/A
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of the
Securities Exchange Act of 1934
For the month of June, 2024
Commission File Number 1-34129
CENTRAIS ELÉTRICAS BRASILEIRAS S.A.
- ELETROBRÁS
(Exact name of registrant as specified in its
charter)
BRAZILIAN ELECTRIC POWER COMPANY
(Translation of Registrant's name into English)
Rua da Quitanda, 196 – 24th floor,
Centro, CEP 20091-005,
Rio de Janeiro, RJ, Brazil
(Address of principal executive office)
Indicate by check mark whether the registrant
files or will file annual reports under cover Form 20-F or Form 40-F.
Form 20-F ___X___ Form 40-F _______
Indicate by check mark whether the registrant
by furnishing the information contained in this Form is also thereby furnishing the information to the Commission pursuant to Rule
12g3-2(b) under the Securities Exchange Act of 1934.
Yes _______ No___X____
Announcement of Transaction
with Related Party
Rio de Janeiro, June 17,
2024, Centrais Elétricas Brasileiras S/A – Eletrobras informs the following transaction with a related party transaction:
| Related Party Names |
Company: Centrais Elétricas Brasileiras S/A
- Eletrobras;
Related Party: Chapada do Piauí I Holding
S/A Specific Purpose Company.
|
| Issuer Relationships |
Eletrobras is a shareholder in SPE Chapada do Piauí I, holding a relevant stake in its capital stock (49%). |
| Date of the transaction |
Contractual instrument signed on 06/07/2024.
|
| Object of the Agreement |
Issuance of a bank guarantee by a market financial
institution (BTG Pactual Bank) as a guarantee to be provided in favor of the creditors of the debt contracts of SPE Chapada do Piauí
I, in accordance with an obligation previously established within the scope of such agreements.
Eletrobras will provide a corporate counter-guarantee
(personal guarantee) to the guarantor in the amount equivalent to its shareholding interest in SPE Chapada do Piauí I, guaranteeing
the SPE's obligations in the event of default, enabling the issuance of the bank guarantee.
|
| Main Terms and Conditions |
The corporate counter-guarantee to be provided by
Eletrobras is equivalent to the amount of the bank guarantee corresponding to the Company's 49% shareholding interest in SPE Chapada do
Piauí I, thus comprising a total of approximately R$ 63 million, in accordance with the contract concluded.
The contractual instrument and the respective personal
guarantee provided will last for 24 (twenty-four) months.
It is observed that, due to the characteristic of
the
transaction portrayed (provision of personal guarantee),
there is no direct financial flow to be established
between
the SPE described in this press release.
Furthermore, only in the event of contractual default
by the
aforementioned SPE, Eletrobras, as counter-guarantor
of
part of its obligations, may be called upon to honor
such
obligations vis-à-vis the Guarantor. |
| Detailed reasons why the Company's Management considers that the transaction has commutative conditions or provides for adequate compensatory payment. |
The conditions of the proposed bank guarantee were
defined based on parameters and quotations usually practiced by the market.
In addition, the provision of the counter-guarantee
by the shareholders (including Eletrobras) allows the issuance of a bank guarantee, contributing to the maintenance of the performance
with the contractual condition of the SPE vis-à-
vis its creditors. |
|
Eventual participation of the counterparty, its partners
or administrators in the decision process
of the issuer's subsidiary regarding
the transaction or the negotiation of
the transaction as representatives of
the Company, describing these
interests. |
The request for the provision of a counter-guarantee
by Eletrobras comes from the financial institution selected by SPE Chapada do Piauí to structure the operation to obtain the bank
guarantee.
Eletrobras' decision to effectively provide the guarantee,
was approved by the Eletrobras Governance Bodies,
and therefore does not have the participation of the SPE.
|
Eduardo Haiama
Vice President of Finance and Investor Relations
This
document may contain estimates and projections that are not statements of fact that have occurred in the past, but reflect the beliefs
and expectations of our management and may constitute estimates and projections about future events within the meaning of Section 27A
of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934,
as amended. The words "believes", "may", "may", "estimates", "continues", "anticipates", "intends", "expects" and the like are intended
to identify estimates that necessarily involve risks and uncertainties, whether known or not. Known risks and uncertainties include, but
are not limited to: general economic, regulatory, political and commercial conditions in Brazil and abroad, variations in interest rates,
inflation and the value of the Brazilian Real, changes in volumes and patterns of consumer use of electricity, competitive conditions,
our level of indebtedness, the possibility of receiving payments related to our receivables, changes in rainfall and water levels in the
reservoirs used to operate our hydroelectric plants, our financing and capital investment plans, existing and future government regulations,
and other risks described in our annual report and other documents filed with the SEC. Estimates and projections speak only as of the
date on which they were expressed and we undertake no obligation to update any such estimates or projections due to the occurrence of
new information or upcoming events. The future results of the Companies' operations and initiatives may differ from current expectations
and the investor should not rely solely on the information contained herein. This material contains calculations that may not reflect
accurate results due to rounding performed.
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
Date: June 18, 2024
| CENTRAIS ELÉTRICAS BRASILEIRAS S.A. - ELETROBRÁS |
| |
|
|
| By: |
/S/ Eduardo Haiama
|
|
| |
Eduardo Haiama
Vice-President of Finance and Investor Relations |
|
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements.
These statements are statements that are not historical facts, and are based on management's current view and estimates offuture
economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes",
"estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended
to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal
operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends
affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect
the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected
events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic
and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual
results to differ materially from current expectations.
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