Main Debt instruments — Bonds, Debentures and Promissory Notes as of 03/31/2020
The debt instruments below account for over 90% of the Company’s total debt.
Bonds
Issuer: Natura Cosméticos S.A.
| Issuance | Date | ISIN | Maturity | Main Value | 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.
Issuer: Avon Products Inc.
| Emissão | Vencimento | Principal | Interest rate (per year) | Payment of interest |
|---|---|---|---|---|
| Senior Secured Bonds due Mar 2022 | 08/15/2022 | US$ 400.0 million | 6.500% | 6 months (February and August) |
| Senior Secured Bonds due Aug 2022 | 08/15/2022 | US$ 500.0 million | 7.875% | 6 months (February and August) |
| Unsecured Bonds due Mar 2023 | 03/15/2023 | US$ 461.9 million | 7.000% | 6 months (March and September) |
| Unsecured Bonds due Mar 2043 | 03/15/2043 | US$ 243.8 million | 8.950% | 6 months (March and September) |
Debentures
Issuer: Natura Cosméticos S.A.
| Issuance | Date | Ticket | Maturity | Main Value | Remuneration | Payment of interest |
|---|---|---|---|---|---|---|
| 7th issue 2017 | 09/25/2017 | NATU17 | 09/25/2020 | BRL 108.6 million | DI + 1.40% per year | 6 months (March and September) |
| NATU27 | 09/25/2021 | BRL 1,827.3 million | DI + 1.75% per year | |||
| 9th issue 2018 | 09/21/2018 | NATU19 | 09/21/2020 | BRL 6.1 million | 109.5% DI tax | 6 months (March and September) |
| NATU29 | 09/21/2021 | BRL 308.3 million | 110.5% DI tax | |||
| NATU39 | 09/21/2022 | BRL 302.7 million | 112% DI tax | |||
| 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 | Date | Maturity | Main Value | Remuneration | Payment of interest |
|---|---|---|---|---|---|
| 1st issue | 12/20/2019 | 12/19/2020 | BRL 370.0 million | DI + 2% per year | December |
| 12/20/2019 | 12/19/2020 | BRL 700.0 million | DI + 2% per year |
Debt Amortization Schedule
Natura &Co Holding S.A. consolidated position(1), as of March 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.
Indebtedness Ratio Evolution
| Value (BRL million) |
Dec-17 | Mar-18 | Jun-18 | Sep-18 | Dec-18 | Mar-19 | Jun-19 | Sep-19 | Dec-19 Natura Cosméticos S.A(4) | Dec-19 Natura &Co Holding S.A.(4) |
Mar-20 Natura Cosméticos S.A.(4) |
Mar-20 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Short Term | 4,077 | 1,582 | 1,028 | 1,274 | 1,182 | 748 | 815 | 439 | 471 | 3,354 | 787 | 1,943 |
| Long Term | 5,255 | 7,244 | 7,513 | 7,418 | 7,259 | 6,651 | 6,788 | 7,574 | 7,432 | 7,432 | 8,343 | 16,610 |
| Total Debt(1) | 9,332 | 8,826 | 8,541 | 8,691 | 8,440 | 7,399 | 7,604 | 8,014 | 7,903 | 10,786 | 9,130 | 18,553 |
| Hedge Accrual Adjustment | (10) | (99) | (444) | (726) | (557) | (523) | (474) | (765) | (662) | (662) | (1,619) | (1,619) |
| Hedge MTM Adjustment |
(0) | 69 | 79 | 198 | 77 | (48) | (112) | (110) | (65) | (65) | (305) | (305) |
| Accounting Debt | 9,322 | 8,796 | 8,176 | 8,163 | 7,960 | 6,829 | 7,018 | 7,138 | 7,176 | 10,059 | 7,207 | 16,629 |
| Leasing NASP/HUB(2) | (463) | (432) | (444) | (440) | (446) | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| BNDES CPC07 Adjustment |
57 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Hedge MTM Adjustment |
0 | (69) | (79) | (198) | (77) | 48 | 112 | 110 | 65 | 65 | 305 | 305 |
| Treasury Debt | 8,917 | 8,295 | 7,653 | 7,525 | 7,437 | 6,877 | 7,130 | 7,248 | 7,241 | 10,124 | 7,512 | 16,934 |
| Cash and Short-Term Deposits | (3,670) | (2,655) | (1,943) | (1,766) | (2,430) | (1,369) | (1,600) | (1,661) | (2,489) | (5,539) | (2,447) | (4,566) |
| Total net debt | 5,247 | 5,640 | 5,710 | 5,759 | 5,006 | 5,508 | 5,530 | 5,588 | 4,752 | 4,585 | 5,065 | 12,368 |
| EBITDA (last 4 quarters)(3) | 1,742 | 1,696 | 1,732 | 1,760 | 1,847 | 1,865 | 1,955 | 1,875 | 1,905 | 1,905 | 1,877 | 2,521 |
| Net Debt/EBTIDA | 3.01x | 3.32x | 3.30x | 3.27x | 2.71x | 2.95x | 2.83x | 2.98x | 2.49x | 2.41x | 2.70x | 4.91x |
(1) Gross debt: excludes Purchase Price Allocation (PPA) effects.
(2) Lease agreements are not included in the Treasury debt amount.
(3) EBITDA excludes IFRS16 impacts.
(4) 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.
Last updated on May 21, 2020
