The Coruripe Plant has concluded a US$300 million financial transaction to extend part of the company's short- and medium-term debt. The objective was to redeem the bonds issued in the international capital market in 2022, maturing in February 2027. The new transaction, which has a six-year term, including a one-year grace period, with amortization until the end of the period, reinforces the company's strategy of adjusting the amortization schedule for the total debt.
The transaction, coordinated by Rabobank, also included the participation of Citibank, Itaú, Kinea and XP Investimentos. The amounts have already been credited to Coruripe, which will liquidate almost all of the bonds (US$278 million) on January 30. The remaining US$22 million, from investors who choose to maintain their positions, will be paid off by February 2027.
The company's CEO, Mario Lorencatto, emphasizes that this strategic operation was structured with several types of instruments, including capital markets, and involved large institutions. According to him, in addition to extending the payment term, there will be a reduction in debt costs and the success of the initiative opens up space for new operations with longer terms. “We have improved the profile of our capital structure and the company will be comfortable to overcome the current period of high interest rates and possible uncertainties in the national and international scenario in the coming years. The success of this operation reaffirms the confidence of large financial institutions and investors in the future of Usina Coruripe and helps to strengthen the credibility of our sector in the capital markets abroad,” says Lorencatto.