República Administradora de Fondos de Inversión S.A.

On August 17, at the Hotel Radisson Montevideo Victoria Plaza, the presentation of the Maldonado I Financial Trust issue was held.

The presentation of the issue was in charge of Jorge Castiglioni- General Manager of Republica AFISA and Federico Bozzolo - partner of Renmax Corredor de Bolsa. 

Likewise, it was attended by the Secretary General of the Municipality of Maldonado, Luis Eduardo Pereira.The Financial Trust will issue Debt Securities in Indexed Units for the equivalent of USD 55 million, with a maximum term of 15 years, and an annual linear rate of 3.125%. 

Interest will be paid quarterly, while capital amortization will be annual and will begin in February 2023.

In February 2023, there will be an accelerated redemption option for a maximum total Nominal Value equivalent to 1/14 of the amount issued with an individual cap on the Nominal Value of UI 500,000.

The exercise price of the option will be equivalent to 99.5% of the issue price (Dutch method).The capital of the Debt Securities remaining after the Initial Amortization, will be amortized in 13 equal and consecutive annual installments in each month of February from February 2024, pro rata and at par.

The support for the repayment of the Debt Securities is the assignment of part of the present and future credits that the Municipality is entitled to receive from the SUCIVE Trust.

Republica AFISA acts as Trustee of the Trust and Renmax Corredor de Bolsa S.A. as Placement Agent.

The subscription of the securities will be carried out at BEVSA and BVM on August 27 and 30, 2021.

For more information on the conditions of the Issue, we invite you to consult the Issue Prospectus.