Sendas Distribuidora has approval for R$800 million of debentures

By Mary-Katherine Stinson

Lexington, Ky., Dec. 6 – Brazil’s Sendas Distribuidora SA has the approval of its board of directors to issue up to R$800 million of non-convertible debentures in two tranches, according to a 6-K filing with the Securities and Exchange Commission.

The eighth issuance of debentures by the company will be in two tranches of R$400 million each with a unit face value of R$1,000.

The first series debentures will have a tenor of four years, while the second series will have a five-year tenor.

The notes are redeemable as of the date defined in the indenture with a premium of 35 basis points per year for the remaining term.

Pentagono SA Distribuidora de Titulos e Valores Mobiliarios will be the trustee.

Proceeds will be used by the company for general purposes, including the possibility of liability management. Furthermore, the resources can be used as cash reinforcement.

Sendas Distribuidora is a Rio de Janeiro-based supermarket chain.

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