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LOANS, FINANCING AND DEBENTURES

6 Months Ended

Jun. 30, 2022

LOANS, FINANCING AND DEBENTURES

LOANS, FINANCING AND DEBENTURES

18.LOANS, FINANCING AND DEBENTURES

18.1.Breakdown by type

Current

Non-current

Total

Average

annual

interest rate -

June 30,

December 31,

June 30,

December 31,

June 30,

December 31,

Type

Interest rate

2022

2021

2022

2021

2022

2021

In foreign currency

BNDES

UMBNDES

4.97

13,472

14,399

4,478

11,952

17,950

26,351

Bonds

Fixed

4.99

905,664

972,053

43,426,332

46,253,007

44,331,996

47,225,060

Export credits ("export prepayment")

LIBOR/Fixed

4.08

795,964

818,896

16,832,931

17,916,691

17,628,895

18,735,587

Others

2,873

782

2,873

782

1,717,973

1,806,130

60,263,741

64,181,650

61,981,714

65,987,780

In local currency

BNDES

TJLP

8.33

73,780

67,499

272,269

312,077

346,049

379,576

BNDES

TLP

11.02

32,632

32,854

943,144

703,502

975,776

736,356

BNDES

Fixed

4.75

24,242

24,672

10,532

22,611

34,774

47,283

BNDES

SELIC

5.83

49,628

35,086

794,341

782,685

843,969

817,771

CRA (“Agribusiness Receivables Certificates”)

CDI/IPCA

11.19

1,452,508

1,561,639

1,164,331

1,687,560

2,616,839

3,249,199

NCE ("Export credit note")

CDI

12.52

64,434

39,535

1,276,973

1,276,330

1,341,407

1,315,865

NCR ("Rural producer certificate")

CDI

12.75

11,468

7,335

273,990

273,852

285,458

281,187

Export credits (“export prepayment”)

Fixed

8.06

23,400

77,694

1,315,275

1,314,737

1,338,675

1,392,431

Debentures

CDI

14.21

31,109

21,980

5,419,602

5,418,088

5,450,711

5,440,068

Others (Working capital and Industrial Development Fund ("FDI") and fair value adjustment on business combination)

(9,435)

(18,887)

(9,435)

(18,887)

1,753,766

1,849,407

11,470,457

11,791,442

13,224,223

13,640,849

3,471,739

3,655,537

71,734,198

75,973,092

75,205,937

79,628,629

Interest on financing

1,162,959

1,204,490

1,162,959

1,204,490

Non-current funding

2,308,780

2,451,047

71,734,198

75,973,092

74,042,978

78,424,139

3,471,739

3,655,537

71,734,198

75,973,092

75,205,937

79,628,629

18.2.Rollforward in loans, financing and debentures


	June 30,	December 31,
	2022	2021
Beginning balance	79,628,629	72,899,882
Fundraising, net issuances	265,090	16,991,962
Interest accrued	1,851,948	3,207,278
Premium with early settlement		260,289
Monetary and exchange rate variation, net	(3,812,954)	4,847,320
Settlement of principal	(853,625)	(15,469,423)
Settlement of interest	(1,919,402)	(2,953,573)
Payment of premium with early settlements		(260,289)
Amortization of fundraising costs	36,799	103,246
Others (fair value adjustment on business combination)	9,452	1,937
Ending balance	75,205,937	79,628,629

18.3.Breakdown by maturity – non current


						2028
	2023	2024	2025	2026	2027	onwards	Total
In foreign currency
BNDES	4,478						4,478
Bonds			1,764,328	2,723,908	3,627,349	35,310,747	43,426,332
Export credits (“export prepayment”)		1,978,800	5,738,520	5,060,702	4,054,909		16,832,931
	4,478	1,978,800	7,502,848	7,784,610	7,682,258	35,310,747	60,263,741
In local currency
BNDES – TJLP	27,560	47,725	97,686	84,598	7,010	7,690	272,269
BNDES – TLP	19,075	38,149	36,902	42,528	111,278	695,212	943,144
BNDES – Fixed	6,522	4,010					10,532
BNDES – Selic	31,017	53,064	191,050	191,095	24,641	303,474	794,341
CRA (“Agribusiness Receivables Certificates”)	1,164,331						1,164,331
NCE (“Export credit note”)			640,800	636,173			1,276,973
NCR (“Rural producer certificate”)			137,500	136,490			273,990
Export credits (“export prepayment”)		1,315,275					1,315,275
Debentures			2,340,550	2,331,068		747,984	5,419,602
	1,248,505	1,458,223	3,444,488	3,421,952	142,929	1,754,360	11,470,457
	1,252,983	3,437,023	10,947,336	11,206,562	7,825,187	37,065,107	71,734,198

18.4.Breakdown by currency


	June 30,	December 31,
	2022	2021
Brazilian Reais	13,213,976	13,629,978
U.S. Dollar	61,974,010	65,972,300
Currency basket	17,951	26,351
	75,205,937	79,628,629

18.5.Fundraising costs

The fundraising costs are amortized based on terms agreements and effective interest rate.


			Balance to be amortized
			June 30,	December 31,
Type	Cost	Amortization	2022	2021
Bonds	434,970	206,392	228,578	261,006
CRA and NCE	125,222	109,000	16,222	21,606
Export credits (“export prepayment”)	191,710	103,950	87,760	110,817
Debentures	24,467	12,969	11,498	13,012
BNDES	63,588	50,428	13,160	13,473
Others	18,147	17,137	1,010	1,148
	858,104	499,876	358,228	421,062

18.6.Relevant transactions entered into the period

18.6.1.BNDES

On March 29, 2022, the Company raised with BNDES the amount of R$243,000 indexed by the interest rate Long-Term Rate ("TLP"), plus fixed interest of 2.33% p.a., with 2 (two) years grace period for principal and maturity in May 2036. The funds were allocated to projects in the industrial area.

18.7.Relevant transactions settled in the period

18.7.1.CRA settlement

On January 14, 2022, the Company settled a CRA contract , in the amount of R$761,572 (principal and interest) , with original maturity in January 2022 at a cost of 99% p.a. of the Interbank Deposit rate (“DI”).

18.8.Guarantees

Some loan and financing agreements have guarantees clauses, in which the financed equipment or other property, plant and equipment are offered by the Company, as disclosed in Note 15.1.

The Company does not have contracts with restrictive financial clauses (financial covenants) to be complied with.