Agi realizes new capture of R$ 1,25 billion in securitized debentures
Is the second issuance realized by the Institution with this instrument, having an AAA rating of Fitch, this time through public offer.
São Paulo, September 29, 2022 – Agi announces their second issuance of financial debentures, an amount of R$ 1,25 billion. The operation will be covered through payroll loans by Agi. The amount is composed by seniors and juniors debentures, being R$ 1 billion and R$ 250 million, respectively.
This second issuance was a public offer coordinated by the banks XP, Itaú BBA and Santander, with demand of 1,6x book and participation of multiple investors, that will receive a compensation of DI + 1,75% per year – which means a cost reduction compared to the first debenture issuance.
The operation has again a national long-term rating ‘AAA(bra)’ – with stable Outlook – issued by Fitch Ratings Brazil and consists on the securitization of performed compensations originated through payroll loans issued by Agi.
The term of senior debentures is 5 years, with 2 years of maturity for principal payment. The operation has relevance until it expires, with amortization delayed starting upon the first 24 months.
“The funding dedicated to payroll credit brings stability, since it will be used to fund this resilient asset that has been built with great discipline throughout the previous year. It’s important to highlight that we had record growth on this portfolio since 2021, considering that in jun/22 is already in almost R$ 7 billion”, comments Gabriel Zaneti, Agi’s Head of Treasury.
“The public offer also gives us the opportunity to access a higher public of investors, strengthening Agi’s perception in front of the market. The stability brought by the secured and committed line is a fundamental pillar to funding diversification with an AAA rating operation, which brings sustainability and guarantee the business consistency, comments Thiago Silva, Financial & RI Officer of Agi.