Afya Limited Announces Closing of Debentures Issuance in Brazilian Market

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[{"type":"text","content":" NOVA LIMA, Brazil--(BUSINESS WIRE)--\nAfya Limited, or Afya (Nasdaq: AFYA) today announced the closing of the issuance, through its wholly-owned subsidiary Afya Participações S.A., of 500,000 simple, non-convertible, unsecured debentures in a single series, each with a par value of R$1,000, totaling an aggregate amount of R$500 million (“Debentures”), by means of a public distribution with restricted placement efforts in the Brazilian market (the “Offering”), under the terms of the Brazilian Securities and Exchange Commission (“CVM”) Rule No. 476, dated January 16, 2009, and was not generally made anywhere outside of Brazil, including in the United States or to US investors. Accordingly, the Debentures were not and will not be registered under the United States Securities Act of 1933, as amended (the “Securities Act”) and may not be offered or sold in the United States absent registration or an applicable exemption from registration under the Securities Act.\n\nAfya expects to use the proceeds of the Offering for general corporate purposes, strengthening its cash position, and extending its debt maturity profile.\n\nThe Debentures were issued with a maturity date of January 15, 2028 (“Maturity Date”), with the principal to be amortized in two equal installments payable on January 15, 2027 and January 15, 2028, corresponding to the fourth and fifth years of the transaction, respectively. The Debentures bear interest at 100% of the CDI interest rate (the average of interbank overnight rates in Brazil, based on 252 business days) plus 1.80% per year, payable semi-annually on January 15 and July 15 of each year, until the Maturity Date.\n\nThis press release does not constitute an offer to sell or the solicitation of an offer to buy any securities to be issued by Afya or any of its subsidiaries, and shall not constitute an offer, solicitation or sale in the United States or to US persons or in any other jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification.\n\nForward-Looking Statements\n\nThis press release includes “forward-looking statements” within the meaning of the U.S. federal securities laws. Statements contained herein that are not clearly historical in nature are forward-looking, and the words “anticipate,” “believe,” “continues,” “expect,” “estimate,” “intend,” “p...

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