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LOANS, FINANCING AND DEBENTURES (Tables)

6 Months Ended

Jun. 30, 2023

LOANS, FINANCING AND DEBENTURES

Schedule of loans, financing and debentures 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

%

2023

2022

2023

2022

2023

2022

In foreign currency

BNDES

UMBNDES

5.4

4,174

11,207

4,174

11,207

Bonds

Fixed

5.0

832,242

907,059

39,928,218

43,218,286

40,760,460

44,125,345

Export credits (“export prepayments”)

LIBOR/Fixed

6.2

1,719,005

156,156

14,597,783

16,779,064

16,316,788

16,935,220

Assets financing

SOFR

3.6

44,320

26,755

177,526

113,217

221,846

139,972

IFC - International Finance Corporation

SOFR

5.9

1,845

2,850,036

2,851,881

Others

10,647

5,980

10,647

5,980

2,612,233

1,107,157

57,553,563

60,110,567

60,165,796

61,217,724

In local currency

BNDES

TJLP

8.4

55,034

69,495

221,302

246,004

276,336

315,499

BNDES

TLP

10.7

53,908

41,640

2,346,197

1,775,991

2,400,105

1,817,631

BNDES

Fixed

4.5

8,563

18,666

2,004

4,011

10,567

22,677

BNDES

SELIC

13.3

67,951

67,115

836,034

814,320

903,985

881,435

CRA (“Agribusiness Receivables Certificates”)

CDI/IPCA

9.6

1,269,990

1,829,966

1,269,990

1,829,966

NCE (“Export credit notes”)

CDI

11.0

78,548

76,463

1,378,261

1,277,616

1,456,809

1,354,079

NCR (“Rural producer certificates”)

CDI

10.7

12,981

13,144

274,265

274,127

287,246

287,271

Export credits (“export prepayments”)

Fixed

8.1

1,339,409

77,694

1,315,813

1,339,409

1,393,507

Debentures

CDI

11.7

33,926

33,689

6,388,162

5,421,113

6,422,088

5,454,802

2,920,310

2,227,872

11,446,225

11,128,995

14,366,535

13,356,867

5,532,543

3,335,029

68,999,788

71,239,562

74,532,331

74,574,591

Interest on financing

1,141,837

1,238,623

1,141,837

1,238,623

Non-current funding

4,390,706

2,096,406

68,999,788

71,239,562

73,390,494

73,335,968

5,532,543

3,335,029

68,999,788

71,239,562

74,532,331

74,574,591

Schedule of non-current portion of loans, financing and debentures by maturity

2029

2024

2025

2026

2027

2028

onwards

Total

In foreign currency

Bonds

5,970

1,640,973

2,495,454

3,350,524

2,406,200

30,029,097

39,928,218

Export credits (“export prepayments”)

894,202

5,254,429

4,656,085

3,793,067

14,597,783

Assets financing

22,774

46,987

48,860

48,123

10,782

177,526

IFC - International Finance Corporation

187,413

883,520

1,779,103

2,850,036

922,946

6,942,389

7,200,399

7,379,127

3,300,502

31,808,200

57,553,563

In local currency

BNDES – TJLP

22,052

98,809

85,571

7,090

3,590

4,190

221,302

BNDES – TLP

21,408

60,963

80,573

141,272

138,439

1,903,542

2,346,197

BNDES – Fixed

2,004

2,004

BNDES – SELIC

28,720

217,090

217,135

28,057

28,103

316,929

836,034

NCE (“Export credit notes”)

640,800

637,460

25,000

25,000

50,001

1,378,261

NCR (“Rural producer certificates”)

137,500

136,765

274,265

Debentures

2,340,550

2,333,776

748,306

965,530

6,388,162

74,184

3,495,712

3,491,280

201,419

943,438

3,240,192

11,446,225

997,130

10,438,101

10,691,679

7,580,546

4,243,940

35,048,392

68,999,788

Summary of changes in loans, financing and debentures


		June 30,		December 31,
		2023		2022
Opening balance		74,574,591		79,628,629
Fundraising, net of issuance costs		5,276,816		1,335,715
Interest accrued		2,309,587		4,007,737
Monetary and exchange rate variations, net		(4,543,048)		(3,949,020)
Settlement of principal		(765,533)		(2,517,934)
Settlement of interest		(2,352,484)		(4,019,072)
Amortization of fundraising costs		32,402		69,649
Others (fair value adjustments to on business combinations)				18,887
Closing balance		74,532,331		74,574,591

Schedule of loans and financing by currency


		June 30,		December 31,
		2023		2022
Brazilian Reais		14,355,349		13,347,244
U.S. Dollars		60,172,808		61,216,140
Currency basket		4,174		11,207
		74,532,331		74,574,591

Schedule of fundraising costs and premiums of securities

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


						Balance to be amortized
						June 30,		December 31,
Type		Cost		Amortization		2023		2022
Bonds		434,970		255,182		179,788		210,822
CRA and NCE		125,222		119,769		5,453		10,838
Export credits (“export prepayments”)		191,710		132,897		58,813		75,520
Debentures		59,216		16,279		42,937		9,984
BNDES		63,588		52,692		10,896		12,016
IFC - International Finance Corporation		41,943		459		41,484
Others		18,147		17,412		735		873
		934,796		594,690		340,106		320,053