Rede D’Or wants to raise BRL 1bn with CRIs

Rede D’Or wants to raise BRL 1bn with CRIs

Rede D’Or is seeking R$1 billion in a public offering of real estate receivables certificates (CRIs).

The largest hospital network in Brazil will use the funds to reimburse the investment in expansion and infrastructure works in 21 properties and to finance new works in another three. A novelty in this CRI is that Rede D’Or will also use the money to pay rent for some projects.

The operation has three series, with semiannual interest payments.

The first matures in 2027 and pays 106.5% of the CDI. The second runs until 2029 and will have a maximum yield between NTN-B 2028 + 0.4% and IPCA + 6.23%. The third has a longer term, ten years, and will have a maximum yield between NTN-B 2030 + 0.5% and IPCA + 6.36%.

Rede D’Or ended 2021 with a net debt/EBITDA ratio of 2.6x. The company’s average debt term is 5.9 years.

Supply may be increased by up to 20% depending on demand. The reservation period for the purchase of CRIs ends on May 24th. The settlement of the operation will be on June 15th.

The issue is rated AAA.br by Fitch.

The offer is coordinated by XP (leader), Itaú BBA and Safra. The securitizer is OPEC.

Source: Brazil Journal

Related post

He earned BRL 1 million with bread packaging and tattooed the company’s brand on his arm

He earned BRL 1 million with bread packaging and…

At the height of the pandemic, in 2020, franchisee Gilsemir Pereira, 40, earned BRL 1 million from his PremiaPão unit in…
Student and teacher earn BRL 46 million with spine rehabilitation franchise

Student and teacher earn BRL 46 million with spine…

Doctor Hernia has already performed more than 280 thousand consultations and fully trained 95.7% of the cases treated at the faculty…
Privatized Eletrobras is worth at least BRL 142.5 billion

Privatized Eletrobras is worth at least BRL 142.5 billion

A more optimistic forecast sees the share at BRL 71.00, equivalent to a 40% increase over the current price on the…

Leave a Reply

Your email address will not be published.