Peru’s Luz del Sur boosts short-term financial liquidity

Peru power distributor Luz del Sur, which serves Lima, placed 360-day bonds for 120mn soles (US$32mn) with a yield of 8.21875%.

Demand for the C series bonds, which are part of the first issue of short-term instruments under the utility's fourth corporate bond program, was 177mn soles, the company said in a securities filing.

China Yangtze Power-controlled Luz previously raised 120mn soles and 130mn soles from the A and B series bonds, demand for which was 180mn and 314mn soles, respectively.

The funds will help cover the distributor’s investments which in 2022 totaled 287mn soles. Its concession area covers 3,500km2, home to over 5mn residents, and its network reached 25,832km at end-2022.

Last year, both Luz’s clients and dispatch of electricity rose nearly 3% to 1,265,060 and 9,280GWh, with the largest growth in physical energy sales being to free users.

Revenue and net profit in 2022 increased 16.4% and 11.0% to 3.91bn soles and 620mn soles, respectively.

In recent days, Luz put into operation its first charging station (pictured) for electric vehicles in partnership with the municipality of Miraflores and EVInka.

Source: Luz del Sur