By Susanna Moon
Chicago, July 6 - Officer said it closed its first issue of five-year non-convertible debentures, raising R$50 million by issuing 5,000 securities with a unit value of R$10,000 each.
The yield will be 119.5% of the CDI (Brazilian yield index), with semiannual payments starting at 18 months.
The deal was coordinated by the Investment Bank of Banco do Brasil.
The purpose of the issue is to further enhance Officer's financial position and support the company's growth that is driven by demand for technology and for consumer electronics in all regions of the country, according to a company press release.
"Securing access to lower cost long-term capital is key to meeting our strategic growth goals," Mauricio de Sousa, the company's chief financial officer, said in the release.
This first issue of debentures has the full support of Ideiasnet, a venture capital firm that owns 100% of Officer, the release noted.
"Officer is experiencing remarkable growth in Brazil and is an exemplary operation in its segment. The funding will help it reach its business objectives in the medium and long term while improving the financial structure of the company and supporting its rapid growth," Sami Haddad, chief executive officer of Ideiasnet, said in the release.
Officer is a distributer of computer products based in Sao Paulo, Brazil.
| Issuer: | Officer
|
| Issue: | Debentures
|
| Amount: | R$50 million
|
| Maturity: | Five years
|
| Units: | 5,000
|
| Price: | Par of R$10,000
|
| Yield: | 119.5% of CDI
|
| Underwriter: | Investment Bank of Banco do Brasil
|
| Pricing date: | July 6
|
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