Afya Limited Announces Closing of Debentures Issuance in Brazilian Market
17 December 2022 - 8:34AM
Business Wire
Afya Limited, or Afya (Nasdaq: AFYA) today announced the closing
of the issuance, through its wholly-owned subsidiary Afya
Participações S.A., of 500,000 simple, non-convertible, unsecured
debentures in a single series, each with a par value of R$1,000,
totaling an aggregate amount of R$500 million
(“Debentures”), by means of a public distribution with
restricted placement efforts in the Brazilian market (the
“Offering”), under the terms of the Brazilian Securities and
Exchange Commission (“CVM”) Rule No. 476, dated January 16,
2009, and was not generally made anywhere outside of Brazil,
including in the United States or to US investors. Accordingly, the
Debentures were not and will not be registered under the United
States Securities Act of 1933, as amended (the “Securities
Act”) and may not be offered or sold in the United States
absent registration or an applicable exemption from registration
under the Securities Act.
Afya expects to use the proceeds of the Offering for general
corporate purposes, strengthening its cash position, and extending
its debt maturity profile.
The Debentures were issued with a maturity date of January 15,
2028 (“Maturity Date”), with the principal to be amortized
in two equal installments payable on January 15, 2027 and January
15, 2028, corresponding to the fourth and fifth years of the
transaction, respectively. The Debentures bear interest at 100% of
the CDI interest rate (the average of interbank overnight rates in
Brazil, based on 252 business days) plus 1.80% per year, payable
semi-annually on January 15 and July 15 of each year, until the
Maturity Date.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities to be issued by Afya
or any of its subsidiaries, and shall not constitute an offer,
solicitation or sale in the United States or to US persons or in
any other jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification.
Forward-Looking Statements
This press release includes “forward-looking statements” within
the meaning of the U.S. federal securities laws. Statements
contained herein that are not clearly historical in nature are
forward-looking, and the words “anticipate,” “believe,”
“continues,” “expect,” “estimate,” “intend,” “project” and similar
expressions and future or conditional verbs such as “will,”
“would,” “should,” “could,” “might,” “can,” “may,” or similar
expressions are generally intended to identify forward-looking
statements. These forward-looking statements speak only as of the
date hereof and are based on Afya’s current plans, estimates of
future events, expectations and trends that affect or may affect
our business, financial condition, results of operations, cash
flow, liquidity, prospects and the trading price of Afya’s Class A
common shares, and are subject to several known and unknown
uncertainties and risks, many of which are beyond Afya’s control.
Therefore, current plans, anticipated actions and future financial
position and results of operations may differ significantly from
those expressed in any forward-looking statements in this press
release. You are cautioned not to unduly rely on such
forward-looking statements when evaluating the information
presented. Afya does not undertake any obligation to update
publicly or to revise any forward-looking statements after we
distribute this press release because of new information, future
events or other factors.
More information available on: https://ir.afya.com.br/
>> Corporate Governance >> Bonds and Ratings
About Afya
Afya is a leading medical education group in Brazil based on the
number of medical school seats, delivering an end-to-end
physician-centric ecosystem that serves and empowers students and
physicians to transform their ambitions into rewarding lifelong
experiences from the moment they join us as medical students
through their medical residency preparation, graduation program,
continuing medical education activities and offering digital
products to help doctors enhance their healthcare services through
their whole career.
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version on businesswire.com: https://www.businesswire.com/news/home/20221216005497/en/
Investor Relations Contact: Afya Limited ir@afya.com.br
Media Contact: Cíntia Moraes Marin cintia.marin@afya.com.br
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