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DEBENTURES | 12 Months Ended
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Dec. 31, 2018
DEBENTURES |
DEBENTURES | NOTE 14 — DEBENTURES
|  | General |  | Quantity as of December 31, 2018 |  |  |  |  |  |
Issuance |  | Meeting |  | Issued |  | Held in treasury |  | Maturity |  | 2018 |  | 2017
3rd- A and B |  | May 27,1982 |  | 144,000 |  | 141,144 |  | 06/01/2021 |  | 18,871 |  | 21,377
7th |  | July 14, 1982 |  | 68,400 |  | 68,271 |  | 07/01/2022 |  | 1,102 |  | 1,333
8th |  | November 11, 1982 |  | 179,964 |  | 178,516 |  | 05/02/2023 |  | 8,080 |  | 14,557
9th |  | June 10, 1983 |  | 125,640 |  | 125,365 |  | 09/01/2024 |  | 2,349 |  | 4,900
11th - A and B |  | June 29, 1990 |  | 150,000 |  | 149,294 |  | 06/01/2020 |  | 5,716 |  | 5,761
15th |  | November 09, 2018 |  | 1,500,000 |  | — |  | 11/21/2022 |  | 1,502,755 |  | —
Total Consolidated |  |  |  |  |  |  |  |  |  | 1,538,873 |  | 47,928
Current |  |  |  |  |  |  |  |  |  | 2,755 |  | —
Non-current |  |  |  |  |  |  |  |  |  | 1,536,118 |  | 47,928
The amortization schedules of long term are as follows:
|  | 2018 |  | 2017
2020 |  | 5,716 |  | 5,761
2021 |  | 18,871 |  | 21,377
2022 |  | 1,501,102 |  | 1,333
2023 |  | 8,080 |  | 14,557
2024 on |  | 2,349 |  | 4,900
|  | 1,536,118 |  | 47,928
15ª Issuance of Debentures: The Board of Directors Meeting held on November 9, 2018 approved the 15 th issuance of Simple Debentures and non-convertible into shares, in a Single Series. The value of the Issuance, subscribed and paid-in, was R$ 1.5 billion, represented by 1,500,000 debentures, with a par value of R$ 1,000.00, and the net proceeds were used to reinforce cash, with the objective of meet ordinary management business. Debentures are denominated in Brazilian reais, they are not convertible into shares and have variable interest at a percentage of the CDI (Interbank Deposit Rate). The nominal annual interest rate was 6.42% and 9.93% as of December 31, 2018 and December 31, 2017, respectively. The Company has guarantees provided by parent entity for debentures of the 7ª, 8ª, 9ª and 11ª issuances.

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