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v3.24.1.1.u2

Borrowings and financing (Tables) | 3 Months Ended
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Mar. 31, 2024
Borrowings And Financing |
Schedule of borrowings and financing outstanding |
Schedule of borrowings and financing outstanding |  |  |  |  |  |
Borrowings and financing outstanding balance | March 31, 2024 | December 31, 2023
Financial institution | Current | Noncurrent | Total | Current | Noncurrent | Total
Local currency |  |  |  |  |  |
12th issue debentures | 56,517 | - | 56,517 | 45,450 | 22,385 | 67,835
18th issue debentures | 40,975 | - | 40,975 | 46,962 | - | 46,962
22nd issue debentures | 174,245 | - | 174,245 | 170,957 | 170616 | 341,573
23rd issue debentures | 490,841 | 374,303 | 865,144 | 490,810 | 374,279 | 865,089
24th issue debentures | - | 523,163 | 523,163 | - | 512,122 | 512,122
26th issue debentures | - | 1,330,768 | 1,330,768 | - | 1,302,042 | 1,302,042
27th issue debentures | 200,000 | 498,704 | 698,704 | 200,000 | 498,634 | 698,634
28th issue debentures | 127,745 | 1,070,548 | 1,198,293 | 127,715 | 1,070,457 | 1,198,172
29th issue debentures | - | 1,332,090 | 1,332,090 | - | 1,314,136 | 1,314,136
30th issue debentures | 124,988 | 748,275 | 873,263 | 125,000 | 873,231 | 998,231
31st issue debentures | - | 2,933,677 | 2,933,677 | - | - | -
Brazilian Federal Savings Bank | 110,235 | 1,489,676 | 1,599,911 | 108,210 | 1,508,275 | 1,616,485
Brazilian Development Bank - BNDES PAC II 9751 | 7,295 | 14,519 | 21,814 | 7,286 | 16,316 | 23,602
Brazilian Development Bank - BNDES PAC II 9752 | 4,943 | 9,885 | 14,828 | 4,936 | 11,107 | 16,043
Brazilian Development Bank - BNDES ONDA LIMPA | 27,223 | - | 27,223 | 27,219 | 6,766 | 33,985
Brazilian Development Bank – BNDES TIETÊ III | 200,947 | 602,767 | 803,714 | 200,693 | 652,175 | 852,868
Brazilian Development Bank - BNDES 2015 | 34,189 | 351,960 | 386,149 | 34,146 | 360,021 | 394,167
Brazilian Development Bank - BNDES 2014 | 6,646 | 8,471 | 15,117 | 6,638 | 10,107 | 16,745
Inter-American Development Bank – IDB 2202 | 181,349 | 1,893,180 | 2,074,529 | 181,349 | 1,983,615 | 2,164,964
Inter-American Development Bank – IDB INVEST | 41,760 | 794,125 | 835,885 | 39,550 | 814,840 | 854,390
Inter-American Development Bank – IDB INVEST 2022 | 14,100 | 438,305 | 452,405 | 14,100 | 438,241 | 452,341
Inter-American Development Bank – IDB INVEST 2023 | 14,100 | 447,808 | 461,908 | 14,100 | 447,791 | 461,891
International Finance Corporation - IFC 2022 | 22,800 | 714,139 | 736,939 | 22,800 | 713,910 | 736,710
International Finance Corporation - IFC 2023 | - | 987,006 | 987,006 | - | 986,651 | 986,651
Leases (Concession Agreements, Program Contracts, and Contract Asset) | 106,362 | 206,075 | 312,437 | 49,884 | 259,326 | 309,210
Leases (others) | 100,102 | 151,548 | 251,650 | 68,499 | 73,801 | 142,300
Other | 3,006 | 2,161 | 5,167 | 3,003 | 2,910 | 5,913
Interest and other charges | 379,694 | - | 379,694 | 377,398 | - | 377,398
Total in local currency | 2,470,062 | 16,923,153 | 19,393,215 | 2,366,705 | 14,423,754 | 16,790,459
Borrowings and financing outstanding balance | March 31, 2024 | December 31, 2023
Financial institution | Current | Noncurrent | Total | Current | Noncurrent | Total
Foreign currency |  |  |  |  |  |
Inter-American Development Bank - IDB 1212 – US$ 15,417 thousand (US$ 20,556 thousand in December 2023) | 51,351 | 25,676 | 77,027 | 49,759 | 49,759 | 99,518
Inter-American Development Bank - IDB 4623 – US$ 152,187 thousand (US$ 152,187 thousand in December 2023) | - | 736,321 | 736,321 | - | 712,449 | 712,449
International Bank for Reconstruction and Development (IBRD) – IBRDs 7662 and 8916 - US$ 104,405 thousand (US$ 78,197 thousand in December 2023) | 30,375 | 476,883 | 507,258 | 29,433 | 477,554 | 506,987
JICA 15 – ¥ 6,338,365 thousand (¥ 6,914,580 thousand in December 2023) | 38,042 | 171,188 | 209,230 | 39,437 | 197,180 | 236,617
JICA 18 – ¥ 5,698,880 thousand (¥ 6,216,960 thousand in December 2023) | 34,204 | 153,803 | 188,007 | 35,457 | 177,168 | 212,625
JICA 17 – ¥ 3,464,352 thousand (¥ 3,464,352 thousand in December 2023) | 9,530 | 104,054 | 113,584 | 9,879 | 107,880 | 117,759
JICA 19 – ¥ 23,575,734 thousand (¥ 24,482,493 thousand in December 2023) | 59,864 | 716,868 | 776,732 | 62,059 | 774,200 | 836,259
Interest and other charges | 22,933 | - | 22,933 | 23,677 | - | 23,677
Total in foreign currency | 246,299 | 2,384,793 | 2,631,092 | 249,701 | 2,496,190 | 2,745,891
Total borrowings and financing | 2,716,361 | 19,307,946 | 22,024,307 | 2,616,406 | 16,919,944 | 19,536,350
Schedule of borrowings terms |
Schedule of borrowings terms |  |  |  |
Local currency | Guarantees | Maturity | Annual interest rate | Inflation adjustment
12th issue debentures | Own funds | 2025 | TR + 9.5% |
17th issue debentures | Own funds | 2023 | CDI + 0.75% (series 1), 4.5% (series 2), and 4.75% (series 3) | IPCA (series 2 and 3)
18th issue debentures | Own funds | 2024 | TJLP + 1.92 % (series 1 and 3) and 8.25% (series 2) | IPCA (series 2)
22nd issue debentures | Own funds | 2025 | CDI + 0.58% (series 1) and CDI+ 0.90% (series 2) and 6.0% (series 3) | IPCA (series 3)
23rd issue debentures | Own funds | 2027 | CDI + 0.49% (series 1) and CDI+ 0.63% (series 2) |
24th issue debentures | Own funds | 2029 | 3.20% (series 1) and 3.37% (series 2) | IPCA (series 1 and 2)
26th issue debentures | Own funds | 2030 | 4.65% (series 1) and 4.95% (series 2) | IPCA (series 1 and 2)
27th issue debentures | Own funds | 2027 | CDI + 1.60% (series 1) and CDI+ 1.80% (series 2) and 2.25% (series 3) |
28th issue debentures | Own funds | 2028 | CDI + 1.20% (series 1) and CDI+ 1.44% (series 2) and 1.60% (series 3) |
29th issue debentures | Own funds | 2036 | CDI + 1.29% (series 1), 5.3058% (series 2), and 5.4478% (series 3) | IPCA (series 2 and 3)
30th issue debentures | Own funds | 2029 | CDI + 1.30% (series 1) and CDI+ 1.58% (series 2) |
31st issue debentures | Own funds | 2034 | CDI +0.49 (series 1) and CDI+1.10% (series 2) and CDI+1.31% (series 3) |
Brazilian Federal Savings Bank | Own funds | 2024/2042 | 5% to 9.5% | TR
Brazilian Development Bank - BNDES PAC II 9751 | Own funds | 2027 | TJLP + 1.72% |
Brazilian Development Bank - BNDES PAC II 9752 | Own funds | 2027 | TJLP + 1.72% |
Brazilian Development Bank - BNDES ONDA LIMPA | Own funds | 2025 | TJLP + 1.92% |
Brazilian Development Bank – BNDES TIETÊ III | Own funds | 2028 | TJLP + 1.66% |
Brazilian Development Bank - BNDES 2015 | Own funds | 2035 | TJLP + 2.18% |
Brazilian Development Bank - BNDES 2014 | Own funds | 2026 | TJLP + 1.76% |
Inter-American Development Bank – IDB 2202 | Government | 2035 | CDI + 0.86% |
Inter-American Development Bank – IDB INVEST | Own funds | 2034 | CDI+ 1.90% and CDI 2.70% |
Inter-American Development Bank – IDB INVEST 2022 | Own funds | 2036 | CDI + 2.50% |
Inter-American Development Bank – IDB INVEST 2023 | Own funds | 2036 | CDI + 0.50% |
International Finance Corporation - IFC | Own funds | 2032 | CDI + 2.00% |
Leases (Concession Agreements, Program Contracts, and Contract Asset) |  | 2035 | 7.73% to 10.12% | IPC
Leases (others) |  | 2042 | 9.74% to 15.24% |
Other | Own funds | 2025 | 3% (FEHIDRO); TJLP + 1.5% (FINEP) |
Foreign currency | Guarantees | Maturity | Annual interest rate | Exchange variation
Inter-American Development Bank - IDB 1212 – US$ 15,417 thousand | Government | 2025 | SOFR +5.13% | US$
Inter-American Development Bank - IDB 4623 – US$ 152,187 thousand | Government | 2044 | SOFR + 6.55055% | US$
International Bank for Reconstruction and Development (IBRD) – IBRDs 7662 and 8916 - US$ 104,405 thousand | Government | 2034 | SOFR + 6.06% and 7.16% | US$
JICA 15 – ¥ 6,338,365 thousand | Government | 2029 | 1.8% and 2.5% | Yen
JICA 18 – ¥ 5,698,880 thousand | Government | 2029 | 1.8% and 2.5% | Yen
JICA 17 – ¥ 3,464,352 thousand | Government | 2035 | 1.2% and 0.01% | Yen
JICA 19 – ¥ 23,575,734 thousand | Government | 2037 | 1.7% and 0.01% | Yen
Schedule of borrowings payment |
Schedule of borrowings payment |  |  |  |  |  |  |  |
| 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | 2030 to 2044 | TOTAL
LOCAL CURRENCY |  |  |  |  |  |  |  |
Debentures | 905,061 | 1,328,730 | 1,217,890 | 1,387,314 | 665,375 | 1,304,027 | 3,218,442 | 10,026,839
Brazilian Federal Savings Bank | 82,048 | 115,356 | 122,556 | 130,195 | 138,177 | 143,481 | 868,098 | 1,599,911
BNDES | 210,955 | 260,803 | 250,860 | 238,124 | 84,351 | 34,189 | 189,563 | 1,268,845
IDBs - National | 139,754 | 260,899 | 330,209 | 315,069 | 420,959 | 385,919 | 1,971,918 | 3,824,727
IFCs | 22,800 | 44,200 | 61,800 | 80,800 | 123,600 | 181,600 | 1,209,145 | 1,723,945
Leases (Concession Agreements, Program Contracts, Contract Asset, and others) | 151,818 | 133,170 | 64,062 | 22,899 | 58,917 | 19,012 | 114,209 | 564,087
Other | 2,254 | 2,771 | 142 | - | - | - | - | 5,167
Interest and other charges | 304,965 | 74,729 | - | - | - | - | - | 379,694
TOTAL IN LOCAL CURRENCY | 1,819,655 | 2,220,658 | 2,047,519 | 2,174,401 | 1,491,379 | 2,068,228 | 7,571,375 | 19,393,215
FOREIGN CURRENCY |  |  |  |  |  |  |  |
IDB | 25,676 | 71,361 | 40,019 | 40,019 | 40,019 | 40,019 | 556,235 | 813,348
IBRD | 15,188 | 30,375 | 30,375 | 30,375 | 30,375 | 41,525 | 329,045 | 507,258
JICA | 75,585 | 141,639 | 141,639 | 141,639 | 141,639 | 141,526 | 503,886 | 1,287,553
Interest and other charges | 19,741 | 3,192 | - | - | - | - | - | 22,933
TOTAL IN FOREIGN CURRENCY | 136,190 | 246,567 | 212,033 | 212,033 | 212,033 | 223,070 | 1,389,166 | 2,631,092
Total | 1,955,845 | 2,467,225 | 2,259,552 | 2,386,434 | 1,703,412 | 2,291,298 | 8,960,541 | 22,024,307
Schedule of changes in borrowings |
Schedule of changes in borrowings |  |  |  |  |  |  |  |  |  |  |  |
| December 31, 2023 | Addition (lease) | Funding | Borrowing costs | Inflation adjustment and exchange rate changes | Inflation adjustment / exchange rate change and incorporated interest- Capitalized | Interest paid | Amortization | Accrued interest | Provision for interest and fees - Capitalized | Expenses with borrowing costs | March 31, 2024
LOCAL CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
Debentures | 7,534,818 | - | 2,940,478 | (7,319) | 51,281 | 10,953 | (166,538) | (316,082) | 151,082 | 36,657 | 2,731 | 10,238,061
Brazilian Federal Savings Bank | 1,621,014 | - | 7,857 | - | 1,653 | 412 | (31,269) | (26,495) | 25,167 | 6,056 | - | 1,604,395
BNDES | 1,341,472 | - | - | - | 1,096 | 553 | (24,734) | (70,274) | 16,743 | 8,191 | 59 | 1,273,106
IDB 2202 | 2,252,742 | - | - | - | - | - | (132,871) | (90,674) | 34,753 | 27,317 | 239 | 2,091,506
IDB INVEST 2020 | 900,367 | - | - | - | - | - | (61,148) | (18,670) | - | 28,095 | 165 | 848,809
IFC 2022 | 757,297 | - | - | - | - | - | - | - | 8,217 | 15,647 | 229 | 781,390
IFC 2023 | 1,006,642 | - | - | - | - | - | - | - | 10,690 | 20,362 | 355 | 1,038,049
IDB INVEST 2022 | 454,543 | - | - | - | - | - | - | - | 14,842 | - | 64 | 469,449
IDB INVEST 2023 | 464,131 | - | - | - | - | - | - | - | 15,038 | - | 17 | 479,186
Leases (Concession Agreements, Program Contracts, and Contract Asset) | 309,210 | - | - | - | - | - | (27,329) | - | 30,556 | - | - | 312,437
Leases (others) | 142,300 | 130,666 | - | - | - | - |  | (30,193) | 8,877 | - | - | 251,650
Other | 5,923 | - | - | - | 6 | - | (92) | (751) | 90 | 1 | - | 5,177
TOTAL IN LOCAL CURRENCY | 16,790,459 | 130,666 | 2,948,335 | (7,319) | 54,036 | 11,918 | (443,981) | (553,139) | 316,055 | 142,326 | 3,859 | 19,393,215
FOREIGN CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
IDBs | 819,455 | - | - | - | 26,441 | - | (2,457) | (25,359) | 13,639 | - | 298 | 832,017
IBRD | 515,015 | - | - | (1,321) | 16,589 | - | (16,507) | (15,133) | 10,076 | 3 | 139 | 508,861
JICA | 1,411,421 | - | - | - | (49,365) | - | (10,651) | (66,395) | 5,005 | 148 | 51 | 1,290,214
TOTAL IN FOREIGN CURRENCY | 2,745,891 | - | - | (1,321) | (6,335) | - | (29,615) | (106,887) | 28,720 | 151 | 488 | 2,631,092
Total | 19,536,350 | 130,666 | 2,948,335 | (8,640) | 47,701 | 11,918 | (473,596) | (660,026) | 344,775 | 142,477 | 4,347 | 22,024,307
| December 31, 2022 | Addition (lease) | Funding | Borrowing costs | Inflation adjustment and exchange rate changes | Inflation adjustment / exchange rate change and incorporated interest- Capitalized | Interest paid | Amortization | Accrued interest | Provision for interest and fees - Capitalized | Expenses with borrowing costs | March 31, 2023
LOCAL CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
Debentures | 8,166,366 | - | - | (516) | 60,883 | 5,463 | (206,330) | (363,123) | 162,197 | 46,336 | 2,859 | 7,874,135
Brazilian Federal Savings Bank | 1,526,185 | - | 50,852 | - | 6,250 | 1,718 | (29,853) | (27,891) | 23,539 | 6,393 | - | 1,557,193
BNDES | 1,380,993 | - | - | - | 3,354 | 984 | (25,753) | (61,940) | 19,891 | 5,670 | 65 | 1,323,264
IDB 2202 | 2,450,550 | - | - | - | - | - | (165,514) | (90,674) | 26,253 | 58,942 | 239 | 2,279,796
IDB INVEST | 943,619 | - | - | - | - | - | (71,521) | (18,670) | 22,661 | 12,244 | 166 | 888,499
IFC | 774,525 | - | - | - | - | - | - | - | - | 29,484 | 228 | 804,237
IDB INVEST 2022 | 469,327 | - | - | - | - | - | - | - | 18,405 | - | 64 | 487,796
Leases (Concession Agreements, Program Contracts, and Contract Asset) | 357,844 | - | - | - | - | - | (13,603) | (10,873) | 13,603 | - | - | 346,971
Leases (others) | 101,374 | 320 | - | - | - | - | (4,523) | (20,389) | 9,047 | - | - | 85,829
Other | 12,130 | - | 3,629 | - | 22 | - | (161) | (1,581) | 160 | 2 | - | 14,201
TOTAL IN LOCAL CURRENCY | 16,182,913 | 320 | 54,481 | (516) | 70,509 | 8,165 | (517,258) | (595,141) | 295,756 | 159,071 | 3,621 | 15,661,921
FOREIGN CURRENCY |  |  |  |  |  |  |  |  |  |  |  |
IDBs | 532,693 | - | 50,342 | - | (15,365) | - | (2,474) | (26,343) | 5,062 | - | 237 | 544,152
IBRD | 399,762 | - | 18,892 | (1,588) | (10,585) | - | (10,061) | (16,014) | 8,691 | 56 | 106 | 389,259
JICA | 1,803,109 | - | - | - | (56,819) | - | (14,057) | (78,741) | 6,635 | 289 | 51 | 1,660,467
IDB 1983AB | 40,194 | - | - | - | (1,056) | - | - | - | 661 | 221 | 104 | 40,124
TOTAL IN FOREIGN CURRENCY | 2,775,758 | - | 69,234 | (1,588) | (83,825) | - | (26,592) | (121,098) | 21,049 | 566 | 498 | 2,634,002
Total | 18,958,671 | 320 | 123,715 | (2,104) | (13,316) | 8,165 | (543,850) | (716,239) | 316,805 | 159,637 | 4,119 | 18,295,923
Schedule of debentures |
Schedule of debentures |  |  |
| Value | Rate | Maturity
Series 1 | 507,000 | CDI + 0.49% p.a. | 2029
Series 2 | 1,734,467 | CDI + 1.10% p.a. | 2031
Series 3 | 699,011 | CDI + 1.31% p.a. | 2034
Total | 2,940,478 |  |
Schedule of restrictive covenants ratios |
Schedule of restrictive covenants ratios |
| Covenants
Adjusted EBITDA / Adjusted Financial Expenses | Equal to or higher than 2.80
EBITDA / Financial Expenses Paid | Equal to or higher than 2.35
Adjusted Net Debt / Adjusted EBITDA | Equal to or lower than 3.80
Net Debt / Adjusted EBITDA | Equal to or lower than 3.50
Other Onerous Debt (1) / Adjusted EBITDA | Equal to or lower than 1.30
Adjusted Current Ratio | Higher than 1.00
(1) The contractual definition of “Other Onerous Debts” corresponds to the sum of pension plan obligations and healthcare plan, installment payments of tax debts, and installment payments of debts with the electricity supplier.
Schedule of borrowing and financing credit limited |
Schedule of borrowing and financing credit limited |
Agent | March 31, 2024
| (in millions of reais (*))
Brazilian Federal Savings Bank | 926
Brazilian Development Bank (BNDES) | 30
Inter-American Development Bank (IDB) | 739
International Bank for Reconstruction and Development (IBRD) | 1,032
Other | 7
TOTAL | 2,734
(*) | Brazilian Central Bank’s exchange rate as of March 31, 2024 (US$ 1.00 = R$ 4.9962; ¥ 1.00 = R$ 0.03301).

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