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DEBENTURES | 12 Months Ended
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Dec. 31, 2019
DEBENTURES |
DEBENTURES | NOTE 16 — DEBENTURES
|  | General |  | Quantity as of December 31, 2019 |  |  |  |  |  |
Issuance |  | Meeting |  | Issued |  | Held in treasury |  | Maturity |  | 2019 |  | 2018
3rd- A and B |  | May 27,1982 |  | — |  | — |  | June 1, 2021 |  | — |  | 18,871
7th |  | July 14, 1982 |  | — |  | — |  | July 1, 2022 |  | — |  | 1,102
8th |  | November 11, 1982 |  | — |  | — |  | May 2, 2023 |  | — |  | 8,080
9th |  | June 10, 1983 |  | — |  | — |  | September 1, 2024 |  | — |  | 2,349
11th - A and B |  | June 29, 1990 |  | — |  | — |  | June 1, 2020 |  | — |  | 5,716
15th |  | November 09, 2018 |  | 1,500,000 |  | — |  | November 21, 2022 |  | 1,504,436 |  | 1,502,755
16th - A |  | April 25, 2019 |  | 600,000 |  | — |  | May 6, 2023 |  | 602,847 |  | —
16th - B |  | April 25, 2019 |  | 800,000 |  | — |  | May 6, 2026 |  | 803,761 |  | —
Total Consolidated |  |  |  |  |  |  |  |  |  | 2,911,044 |  | 1,538,873
Current |  |  |  |  |  |  |  |  |  | 18,015 |  | 2,755
Non-current |  |  |  |  |  |  |  |  |  | 2,893,029 |  | 1,536,118
The amortization schedules of long term are as follows:
|  | 2019 |  | 2018
2020 |  | — |  | 5,716
2021 |  | — |  | 18,871
2022 |  | 1,496,591 |  | 1,501,102
2023 |  | 598,530 |  | 8,080
2024 |  | — |  | 2,349
2025 on |  | 797,908 |  | —
|  | 2,893,029 |  | 1,536,118
16 th Issuance of Debentures: At the Board of Directors Meeting held on April 25, 2019, the Sixteenth Issuance of Non-convertible Debentures, in Two Series, was approved. The amount of the Issuance, subscribed and paid in, was R$ 1,400 million, of which R$ 600 million in the first series and R$ 800 million in the second series, with a unit par value of R$ 1,000.00, and net proceeds were used for cash reinforcement, in order to serve its ordinary management business. The 1 st Series debentures mature in 48 months and yield interest equivalent to 105.5% of the CDI. The 2 nd Series Debentures mature in 84 months and yield interest equivalent to 107.25% of the CDI. Early Redemption: At the Board of Directors meeting held on July 2, 2019, it was decided to authorize the early redemption of all debentures of the 3 rd A and B, 7 th, 8 th, 9 th and 11 th A and B issuances. The amounts paid to debenture holders were adjusted until the settlement date pursuant to the corresponding Debenture Issues. The debentures are denominated in Brazilian Reais, nonconvertible, and pay variable interest as a percentage of the CDI – Interbank Deposit Certificate. The average interest rate was 6.18% for the year ended on December 31, 2019 (6.60% for the year ended on December 31, 2018).

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