Indebtedness

Main Debt instruments — Bonds, Debentures and Promissory Notes as of 09/30/2020

The debt instruments below account for over 90% of the Company’s total debt.

Bonds

Issuer: Natura Cosméticos S.A.

Issuance Issue Date ISIN Maturity Principal Coupon
(per year)
Payment of interest
1st issue
2018
02/01/2018 144A: US63883KAA34
RS: USO7088CTF33
02/01/2023 US$ 750.0 million(1) 5.375% 6 months
(February and August)

(1) Principal and interests fully hedged (swapped to BRL). For more information, see the explanatory notes to the Company’s financial statements.


Issuers: Avon Products, Inc., Avon International Operations, Inc. and Avon International Capital p.l.c.  

(1) Coupon based on current credit ratings
(2) Subsequent event: pre-paid on November 2, 2020
Issuer Instrument Issue Date Maturity Date ISIN Principal Coupon (per year) Payment of interest
Avon International Capital p.l.c. Senior Secured Bonds (2) 07/03/2019 08/15/2022 144A: US05409AAA16
RS: USG06870AA04
US$ 400.0 million 6.500% 6 months
(February and August)
Avon International Operations, Inc. Senior Secured Bonds(2) 08/15/2016 08/15/2022 144A: US05409QAA67
RS: USU05485AA20
US$ 500.0 million 7.875% 6 months
(February and August)
Avon
Products, Inc.
Unsecured Bonds 03/12/2013 03/15/2023 144A: US054303BA99
RS: N/A
US$ 461.9 million 7.000%(1) 6 months
(March and September)
Avon
Products, Inc.
Unsecured Bonds 03/12/2013 03/15/2043 144A: US054303AZ59
RS: N/A
US$ 216.1 million 8.950%(1) 6 months
(March and September)

 

Debentures

Issuer: Natura Cosméticos S.A.

Issuance Issue Date Ticker Maturity Principal Remuneration Payment of interest
7th issue 2017 09/25/2017 NATU27 09/25/2021 BRL 1,827.3 million DI + 1.75% per year 6 months
(March and September)
9th issue 2018 09/21/2018 NATU29 09/21/2021 BRL 308.3 million 110.50% DI rate 6 months
(March and September)
NATU39 09/21/2022 BRL 302.7 million 112.00% DI rate
10th issue 2019 08/28/2019 NATA01 08/26/2024 BRL 400.0 million DI + 1.00 per year 6 months
(February and August)
08/29/2019 NATB01 08/26/2024 BRL 95.7 million DI + 1.15 per year
NATC01 08/26/2024 BRL 686.2 million DI + 1.15 per year
NATD01 08/26/2024 BRL 394.5 million DI + 1.15 per year

Promissory Notes

Issuer: Natura &Co Holding S.A.

Issuance Issue Date Maturity Principal Remuneration Payment of interest
1st issue 12/20/2019 12/19/2020  BRL 560.0 million DI + 2.00% per year December
2nd issue 05/04/2020 05/04/2021  BRL 500.0 million DI + 3.25% per year May


Issuer: Natura Cosméticos S.A.

Issuance Issue Date Maturity Principal Remuneration Payment of interest
1st issue 05/04/2020 05/04/2021  BRL 250.0 million DI + 3.25% per year May

Debt Amortization Schedule1,2

Natura &Co Holding S.A. consolidated position, as of September 30, 2020.

 

(1) Gross debt: i) excludes Purchase Price Allocation (PPA) effects;  ii) amounts net of hedge effects; iii) includes accrued interests up to the due date.
(2) Proforma debt: 2020: considers US$ 14 million of accrued interest; and 2022 considers the debt balance net of emission costs (US$ 891 million).  

Indebtedness Ratio Evolution

 

Value
(BRL million)
Sep-18 Dec-18 Mar-19 Jun-19 Sep-19

Dec-19 Natura Cosméticos S.A.(3)

Dec-19
Natura &Co Holding
S.A.(3)

Mar-20 Natura Cosméticos S.A.(3)

Mar-20
Natura &Co Holding
S.A.(3)

Jun-20 Natura Cosméticos S.A.(3)

Jun-20
Natura &Co Holding
S.A.(3)

Sep-20 Natura Cosméticos S.A.(3)

Sep-20
Natura &Co Holding
S.A.(3)

    Short Term 1,274 1,182 748 815 439 471 3,354 787 1,943 1,178 2,631 3,214 4,536
    Long Term 7,418 7,259 6,651 6,788 7,574 7,432 7,432 8,343 16,610 8,540 17,256 6,432 15,262
Total Debt(1) 8,691 8,440 7,399 7,604 8,014 7,903 10,786 9,130 18,553 9,718 19,887 9,645 19,797
Hedge Accrual Adjustment (726) (557) (523) (474) (765) (662) (662) (1,619) (1,619) (1,875) (1,875) (1,990) (1,990)
Hedge MTM
Adjustment
198 77 (48) (112) (110) (65) (65) (305) (305) (286) (286) (282) (282)
Accounting Debt 8,163 7,960 6,829 7,018 7,138 7,176 10,059 7,207 16,629 7,558 17,726 7,373 17,525
Leasing NASP/HUB(2) (440) (446) 0 0 0 0 0 0 0 0 0 0 0
Hedge MTM
Adjustment
(198) (77) 48 112 110 65 65 305 305 286 286 282 282
Treasury Debt 7,525 7,437 6,877 7,130 7,248 7,241 10,124 7,512 16,934 7,844 18,012 7,655 17,807
  Cash and Short-Term Deposits (1,766) (2,430) (1,369) (1,600) (1,661) (2,489) (5,539) (2,447) (4,566) (3,685) (7,390) (4,264) (7,951)
Total net debt 5,759 5,006 5,508 5,530 5,588 4,752 4,585 5,065 12,368 4,159 10,622 3,391 9,857
Net Debt / EBITDA(4) 3.27x 2.71x 2.95x 2.83x 2.98x 2.49x 2.41x 2.70x 4.91x 2.04x 4.83x 1.33x 3.92x
Net Debt / EBITDA(5) 2,02x 3,93x 1.52x 3.63x 1.03x 3.00x

(1) Gross debt: excludes Purchase Price Allocation (PPA) effects.
(2) Lease agreements  are not included in the Treasury debt amount.
(3) Until Sep-19 indebtedeness is presented for Natura Cosméticos S.A. only. From Dec-19, the indebtedness calculation is presented for Natura Cosméticos S.A. and also for Natura &Co Holding S.A., separately.
(4) Indebtedness ratio excluding IFRS 16 effects.
(5) Indebtedness ratio including IFRS 16 effects.  

 

Última atualização em November 17, 2020

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