The Angola Capital Markets Commission has received notice of the second commercial paper issuance by ETU Energias, S.A., which was fully subscribed through a private offer to institutional investors for USD 5 million, with the AOA equivalent determined at the National Bank of Angola exchange rate. Inovadora Capital – Sociedade Distribuidora de Valores Mobiliários, S.A. acted as the intermediary agent for the transaction and handled the structuring and placement of the offer. The commission also noted that, under Articles 18 and 19 of the legal regime for commercial paper, a private offer aimed at institutional investors is not subject to prior regulatory approval.