May 19, 2020 |
Brazilian private education company Cogna Educação said it plans to sell BRL500 million ($87.5 million) in debentures in the local market, raising money to provide capital for its subsidiaries.
Cogna intends to price the new three-year notes at the DI interbank lending rate plus 2.95%, backed by a corporate guarantee from its affiliates Saber and Anhanguera Educacional, it said in a securities filing on Friday..
It also said it will use the proceeds to add to its cash position and provide workin
Brazilian private education company outlines $88 mln in three-year debentures to provide funding for its subsidiaries