By Wendy Van Sickle
Columbus, Ohio, July 26 – Arco Platform Ltd. said its wholly owned direct subsidiary, Companhia Brasileira de Educacao e Sistemas de Ensino AS, issued R$550 million 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 260 basis points.
The debentures mature on July 12, 2028 with principal to be amortized in three equal installments payable on July 12, 2026, July 12, 2027 and July 12, 2028.
The company plans to use proceeds 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$550 million
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| Issue: | Non-convertible debentures
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| Maturity: | July 12, 2028
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| Coupon: | CDI interest rate plus 260 bps
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| Settlement date: | July 26
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| Distribution: | Brazil
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