Sabesp - Material Fact: Approval of the 30th Issue of Debentures
On February 10, 2022, Sabesp approved the 30th issuance of simple, unsecured, and non-convertible debentures for public distribution, totaling R$ 1 billion. This offer targets a maximum of 75 professional investors, with subscriptions limited to 50. The proceeds will refinance financial commitments maturing in 2022 and bolster the company's cash position. This issuance adheres to CVM regulations, ensuring a structured bookbuilding process to finalize the offer details.
- Issuance of R$ 1 billion in debentures strengthens cash position.
- Targeting professional investors maximizes funding efficiency.
- Limited to 50 investors may restrict broader investment opportunities.
- Proceeds required for refinancing may indicate existing financial pressure.
SÃO PAULO, Feb. 10, 2022 /PRNewswire/ -- Companhia de Saneamento Básico do Estado de São Paulo – Sabesp ("Company"), in compliance with the terms set forth in Resolution of the Brazilian Securities and Exchange Commission ("CVM") No. 44, of August 23, 2021, hereby informs its shareholders and the market in general that, on this date, it was approved, in the 961st meeting of the Board of Directors of the Company, the 30th issuance of simple, unsecured and non-convertible debentures, in up to two series, for public distribution, with restricted placement efforts, pursuant to CVM Rule No. 476, dated as of January 16, 2009, as amended ("CVM Rule 476"), in the total amount of one billion reais (R
It shall be adopted the procedure for collecting the investment intentions of the potential professional investors (bookbuilding procedure) in the Debentures, in order to define together with the Company: (i) the number of series of the Offer; (ii) the number of Debentures to be placed in each series of the Offer, according to communicating vessels system; and (iii) the final interest to be used in connection to the remuneration of each series.
The Offer will target professional investors only, in compliance with Articles 11 and 13 of CVM Resolution 30, of May 11, 2021, and Article 2 of CVM Rule 476. According to Article 3 of CVM Rule 476, the Offer will be presented to a maximum of seventy-five (75) professional investors, though the Debentures may only be subscribed by a maximum of fifty (50) professional investors. The process of structuring the Offer and distribution of the Debentures will be undertaken by a consortium of financial institutions belonging to the Securities Distribution System.
The proceeds from the issuance and offering of the Debentures will be used to the refinance of its financial commitments maturing in 2022 and to replenish and reinforce the Company's cash position.
This Material Fact is disclosed by the Company exclusively for informative purposes, in accordance with current regulations, and should not be interpreted or considered, for all legal purposes, as a material or effort to sell or offer.
In accordance with the applicable regulations and according to the rules of conduct set forth therein, additional information about the Company and the Offer shall be viewed on CVM's website (http://www.gov.br/cvm) and the Company's website (https://ri.sabesp.com.br).
IR Contacts:
Mario Arruda Sampaio – (55 11) 3388-8664 (maasampaio@sabesp.com.br)
Angela Beatriz Airoldi – (55 11) 3388-8793 (abairoldi@sabesp.com.br)
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SOURCE Sabesp
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