By Wendy Van Sickle
Columbus, Ohio, Aug. 5 – Arco Platform Ltd. said its wholly owned direct subsidiary Companhia Brasileira de Educacao e Sistemas de Ensino AS issued R$1.2 billion of five-year non-convertible debentures in Brazil on Friday, according to a news release.
The debentures are guaranteed by Arco Educacao SA.
Interest accrues at the CDI interest rate plus 230 basis points.
The debentures mature on Aug. 3, 2027 with principal to be amortized in three equal installments payable on Aug. 3, 2025, Aug. 3, 2026 and Aug. 3, 2027.
The company plans to use proceeds to prepay the R$1 billion outstanding debentures issued in August 2021, to strengthen its cash position and to extend its debt maturity profile.
Based in Sao Paulo, Brazil, the company uses data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content and pedagogical services to allow students to personalize their learning experience.
| Issuer: | Companhia Brasileira de Educacao e Sistemas de Ensino AS
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| Guarantor: | Arco Educacao SA
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| Amount: | R$1.2 billion
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| Issue: | Non-convertible debentures
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| Maturity: | Aug. 3, 2027
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| Coupon: | CDI interest rate plus 230 bps
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| Settlement date: | Aug. 3
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| Distribution: | Brazil
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