Verde Announces Court Approval of Debt Renegotiation Agreement

Core Viewpoint - Verde Agritech Ltd has successfully renegotiated its debt, securing extended payment terms and reduced interest rates, which enhances the company's liquidity and financial stability [1][16]. Group 1: Debt Renegotiation Details - The civil court has homologated Verde's Debt Renegotiation Agreement, which affects 92.2% of the total outstanding debt [1][2]. - Adherent creditors will benefit from a grace period of 18 months, during which all payments are suspended [5]. - The repayment term for the debt is set to 108 months, with a structured repayment plan that includes 10% repayment between months 19 and 54, 30% between months 55 and 90, and 60% between months 91 and 126 [5]. Group 2: Financial Terms - The principal amount will see a 75% reduction, equating to approximately R$7.0 million [5]. - Interest rates will be reduced to the Taxa Referencial (TR), currently around 0.81% per year, with interest accruing at CDI + 1.25% for the first three years, increasing to CDI + 2.5% thereafter [5]. - A symbolic monthly payment of R$100,000 will commence after six months [16]. Group 3: Company Overview - Verde Agritech is focused on sustainable agriculture through the innovation of specialty multi-nutrient potassium fertilizers, aiming to enhance agricultural productivity and soil health [3]. - The company utilizes proprietary technologies in Brazil to address global challenges such as food security and climate change [3].