- The issuance of BRL 1 billion in debentures is linked to the use of renewable energy;
- If the targets for the use of renewable energy are not met, Via Varejo will pay an extra fee for each series of debentures.
Brazilian retail group Via Varejo, the parent company of brands such as Casas Bahia and Ponto Frio, has just informed that its directors’ board approved the issuance of BRL 1 billion in debentures linked to compliance with sustainability goals – more specifically to the use of renewable energy.
According to a statement to the market and shareholders, the funds raised by the company through debentures will be used to expand the resources available for managing the company’s business and delay the payment of debts.
The debentures will be issued in two series with maturities of three and five years. Up to one million securities with a unit value of BRL 1,000 will be issued. The remuneration will be 100% of the CDI rate (CDI rate (a daily average of overnight interbank loans) plus a surcharge of up to 1.09% and up to 2.10% for the first and second series, respectively.
If the targets for the use of renewable energy are not met, Via Varejo will pay an extra fee for each series of debentures.