JHSF Participações SA will amend the terms and conditions involving its existing debentures worth 718 million reais and bank credit notes totaling 289 million reais.
The figures represent approximately 1.01 billion reais of borrowings in aggregate.
The principal grace period for the debentures and notes will be altered to 18 months, with the possibility of a six-month extension. The grace period for the debenture issuance commenced Dec. 15, according to a release.
As per the amendment, interest amortization will take place on a monthly basis instead of semi-annually, from Jan. 18, 2018, for the debentures and Jan. 22, 2018, for the notes. A 2.7% annual spread is determined, reflecting respective reductions of 70 and 25 basis points over the Brazilian Interbank Rate.
The company issued the debentures on Nov. 29, 2013, while the notes were secured from Banco do Brasil on Sept. 22, 2015.
As of Dec. 15, US$1 was equivalent to about 3.32 Brazilian reais.