02/11/2023 – 17:54
The concessionaire Rio+ Saneamento will offer R$2.5 billion in simple debentures with incentives. The operation, the second of its kind promoted by the company, will be divided into two series, the first for R$1.35 billion and the next for R$1.15 billion.
The first series will be remunerated at a rate of 6.95% per year or National Treasury Note Series B (NTB-B), with an increase of 1.6%. For the second series, the remuneration is expected to be between IPCA plus 7.45% or NTB-N, with maturity in May 2045.
The presentation process to potential investors (roadshow) will begin next Monday, the 6th. The offering period begins on November 9th, concluding on December 5th and settlement date on May 29th, 2024.
Rio+ Saneamento is part of the Águas do Brasil Group, which created a concessionaire in partnership with Vinci Partners in 2021. In August 2022, it took over water and sewage operations in 18 municipalities in Rio de Janeiro, which form Block 3 of Cedae.
The amount raised in the offer will be allocated to investments in municipalities in Rio de Janeiro, Itaguaí and Seropédica. The amount will also be used to pay for the concession contract, which began in August 2022.
From the pre-operational phase until June 30, 2023, the company made around R$100 million in investments. The strategic plan foresees R$4 billion over the 35 years of operation of the concession.
The offering of debentures will be coordinated by the National Bank for Economic and Social Development (BNDES), BTG Pactual, Banco ABC, Bradesco BBI, Santander and XP.
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