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.
| 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 |
Mar-20 Natura Cosméticos S.A.(3) |
Mar-20 |
Jun-20 Natura Cosméticos S.A.(3) |
Jun-20 |
Sep-20 Natura Cosméticos S.A.(3) |
Sep-20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 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
