The Company's gross debt reached R$11,542.5 million on September 30, 2024, up R$2,273.8 million (+24.5%) from the balance reported on December 31, 2023, mainly due to funding operations to fund the Company's investments: (i) 15th issue of debentures of R$ 1,327.4 million in 1Q24; (ii) 16th issue of debentures of R$1,000.0 million in 2Q24; and (iii) disbursement from BNDES with an amount of R$80.0 million in 2Q24. Also, in February 2024, the Company settled the 5th issue of debentures in the approximate amount of R$445.0 million. As a result of these operations, the Company's nominal average cost reduced to 10.79% p.a. (vs. 11.06% p.a. in 4Q23). There was no new raising of funds in 3Q24.
Cash and cash equivalents totaled R$2,511.9 million at the end of 3Q24, up R$739.9 million (+41.8%) compared to the closing of 2023. When excluding cash and cash equivalents of the jointly-controlled subsidiaries, the Company's net debt was R$9,534.0 million on September 30, 2024, an increase of R$1,625.8 million (+20.6%) compared to the net debt at December 31, 2023.
Only the financing agreements with the BNDES, for which total debt balance is R$650.8 million, have financial covenants. These indicators are being properly complied with by ISA CTEEP and the covenant valid as from 2024 is the Net Debt/EBITDA indicator of 3.0x, with annual measurements. The managerial leverage ratio used by the Company considers the BNDES calculation methodology, which was Net Debt/EBITDA of 2.49x in 2Q24, compared to 2.39x in 4Q23.
Gross Debt Amortization Schedule
(BRL million)
Debt Contracting and
Indexing 09/30/2024
Debenture
| Issue | Category | Total offering | Nominal Unit Value | Series | Issue | Maturity | Remuneration | Documents |
|---|---|---|---|---|---|---|---|---|
| 7th Issue | Encouraged & Green Bond | BRL 621.0 million | BRL1 thousand | Single | 02/05/2018 | 04/15/2025 |
IPCA + 4.70 per year
|
|
| 8th Issue | Encouraged & Green Bond | BRL 409.0 million | BRL1 thousand | Single | 12/20/2019 | 12/15/2029 | IPCA + 3.50 per year |
|
| 9th Issue | 1ª série: Common 2ª série: Encouraged & Green Bond |
BRL1,600.0 million | BRL1 thousand | Two series | 12/7/2020 | 1st serie: 11/15/2028 2nd serie: 5/15/2044 |
1st Serie: CDI +2.83% p.a. 2nd Serie: IPCA + 5.30% p.a. |
|
| 10th Issue | Encouraged & Green Bond | BRL672.5 million | BRL1 thousand | Single | 2/10/2021 | 7/15/2044 | IPCA+5.07% p.a. |
|
| 11th Issue | Encouraged & Green Bond | BRL950 million | BRL1 thousand | Two Series | 10/28/2021 | 1st serie: 10/15/2031 2nd serie: 10/15/2039 |
1st Serie: IPCA + 5.77% p.a. 2nd Serie: IPCA + 5.86% p.a. |
|
| 12th Issue | Common | BRL700 million | BRL1 thousand | Single | 04/18/2022 | 04/15/2029 | CDI + 1.55% p.a |
|
| 13th Issue | Common | BRL550 million | BRL1 thousand | Single | 03/24/2023 | 03/15/2030 | CDI + 1.50% p.a |
|
| 14th Issue | Encouraged & Green Bond | BRL1,900.0 million | BRL1 thousand | Two Series | 10/25/2023 | 1st serie: 10/15/2033 2nd serie: 10/15/2038 |
1st Serie: IPCA + 6.26 p.a 2nd Serie: IPCA + 6.44% p.a |
|
| 15th Issue |
1st Serie: Common |
R$ 1,327 million | R$ 1 thousand | Three Series | 03/28/2023 |
1st Serie: 03/15/2029 |
1st Serie: CDI + 0.73% |
|
| 16th Issue | 1st Serie: Common | BRL1,000 million | R$ 1 thousand | Single | 05/29/2024 | 1st Serie: 05/20/2031 | CDI + 0.80% |
|
| 17th Issue | Encouraged & Green Bond | R$ 1,800 million | R$ 1 thousand | Two Series | 10/28/2024 |
1st Serie: 10/15/2036 |
|
| Issue | Total offering | Nominal Unit Value | Series | Issue | Maturity | Remuneration | Documents |
|---|---|---|---|---|---|---|---|
| 2nd Issue | BRL 350 million | BRL 10 thousand | Single | 03/18/2013 | 03/18/2025 | IPCA + 5.5% per year |
|
| Issue | Total offering | Nominal Unit Value | Series | Issue | Maturity | Remuneration | Documents |
|---|---|---|---|---|---|---|---|
| 1st Issue | BRL 1.6 billion | 1.000 | Single | 12/15/2019 | 12/15/2043 (24 years) | IIPCA + 4.9982% per year |
|
Updated on October 30, 2024.