By Wendy Van Sickle
Columbus, Ohio, Aug. 26 – Companhia Brasileira de Educacao e Sistemas de Ensino SA issued R$900 million of two-year non-convertible debentures in Brazil on Wednesday, according to a news release from parent company Arco Platform Ltd.
The debentures bear interest at the CDI rate plus 170 basis points.
They will be guaranteed by Aroc Educacao SA.
The maturity date is Aug. 25, 2023.
The issuer will use proceeds to meet its current obligations, including amounts payable in connection with recent acquisitions, corporate purposes and payment of its general indebtedness.
The Sao Paulo-based company uses data-driven learning methodology, proprietary adaptable curriculum, interactive hybrid content, and high-quality pedagogical services allow students to personalize their learning experience.
| Issuer: | Companhia Brasileira de Educacao e Sistemas de Ensino SA
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| Guarantor: | Aroc Educacao SA
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| Issue: | Non-convertible debentures
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| Amount: | R$900 million
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| Maturity: | Aug. 25, 2023
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| Coupon: | CDI rate plus 170 bps
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| Issue date: | Aug. 25
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