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Debentures
 3 Months Ended 12 Months Ended
Mar. 31, 2020
Dec. 31, 2019
Text Block [Abstract]    
Debentures

10. Debentures

On May 15, 2019 and September 28, 2018, the Company issued Debentures, non-convertible into shares, in the amount of R$ 800,000, with the objective of funding the Group’s working capital and treasury investments. As of March 31, 2020, the total balance is comprised of the following issuances:

 

Issuance    Quantity
(units)		      Annual rate      Issuance
date		      Maturity
date		      Unit value at
issuance		      Unit value at
period-end		      Book
value		  

1st

      400,000        108.0% CDI        9/28/2018        9/28/2020      R$ 1,000.00      R$ 1,093.87        438,010  

2st

      400,000        107.5% CDI        5/15/2019        5/15/2022      R$ 1,000.00      R$ 1,016.83        406,351  
  

 

 

                    

 

 

  

Total

      800,000                       844,361  
  

 

 

                    

 

 

  

 

     March 31,
2020		      December 31,
2019		  

Principal

      800,000        800,000  

Interest

      56,258        47,127  

Payments

      (11,897 )       (11,897 ) 
  

 

 

     

 

 

  

Total

      844,361        835,230  
  

 

 

     

 

 

  

Current

      444,361        435,230  

Non-current

      400,000        400,000  

 

The principal amount and accrued interest payables related to the first issuance are due on the maturity date, while for the second issuance, 50% of the principal amount is due on May 15, 2021 and the remaining balance on the maturity date, and accrued interest payable every 12 months from the issuance date. There were no amounts paid in the period ended March 31, 2020.

Debentures are subject to financial covenants, which comply with certain performance conditions. The Group has complied with these covenants throughout the reporting period (Note 24(b)).

16. Debentures

On May 15, 2019 and September 28, 2018, the Company issued Debentures, non-convertible into shares, in the amount of R$ 800,000, with the objective of funding the Group’s working capital and treasury investments. As of December 31, 2019, the total balance is comprised of the following issuances:

 

Issuance

    Quantity (units)      Annual rate      Issuance date      Maturity date      Unit value at
issuance		      Unit value at
period-end		      Book
value		  

1st

      400,000        108,0% CDI        9/28/2018        9/28/2020      R$  1,000.00      R$  1,082.01        433,262  

2st

      400,000        107,5% CDI        5/15/2019        5/15/2022      R$ 1,000.00      R$ 1,005.88        401,968  
  

 

 

                    

 

 

  

Total

      800,000                       835,230  
  

 

 

                    

 

 

  

 

     2019      2018  

Principal

      800,000        400,000

Interest

      47,127        6,538  

Payments

      (11,897 )       —      
  

 

 

     

 

 

  

Total

      835,230        406,538  
  

 

 

     

 

 

  

Current

      435,230        —    

Non-current

      400,000        406,538  

 

The principal amount and accrued interest payables related to the first issuance are due on the maturity date, while for the second issuance, 50% of the principal amount is due on May 15, 2021 and the remaining balance on the maturity date, and accrued interest payable every 12 months from the issuance date. There were no amounts paid in 2019.

Debentures are subject to financial covenants, which comply with certain performance conditions. The Group has complied with these covenants throughout the reporting period (Note 34(ii)).