Arteris S.A. informed the market that, on August 28, 2013, it subsidiary Concessionária de Rodovias do Interior Paulista S.A. (Intervias) approved the third issue of unsecured debentures, not convertible into shares, totaling R$600 million (US$263 million).

The debentures will mature in five years as of the issue date, with amortization in three annual installments in the third, fourth and fifth year as of the issue date.

The debentures remuneration will be paid every six months as of the issue date.

Intervias will use the net proceeds of the offering to refinance existing debt, including redemption of its first and second debenture issues, and for general corporate purposes.

Intervias' concession for management and operation of Lot 06 of the State of São Paulo's Highway Concessions Program was granted in 2000.

The concession term is around 28 years, ending on January 17, 2028. Intervias manages 375.7 km of toll road and 9 bidirectional toll plazas with 49 manual-collection lanes and 20 automatic-collection lanes, through which approximately 141,960 vehicle-equivalents travel per day.

Intervias is headquartered in the city of Araras and includes 19 municipalities, in its toll road system, where approximately 1.7 million inhabitants live. The main bordering cities are: Piracicaba, Limeira, Mogi Mirim, Rio Claro and São Carlos.

Intervias is owned by Arteris, former OHL Brasil, which was sold to abertis and Brookfield Infrastructure.

Source: Arteris