Afya Secures Loan of up to R$500 Million From IFC to Support the Company’s Expansion
August 07 2024 - 5:21PM
Business Wire
Afya Limited (Nasdaq: AFYA; B3: A2FY34) (“Afya” or the
“Company”), the leading medical education group and medical
practice solutions provider in Brazil announced today that its
wholly-owned subsidiary, Afya Participações S.A., entered into a
loan agreement with International Finance Corporation ("IFC") to
finance its expansion program, through acquisitions.
The financing is IFC’s first sustainability-linked loan based on
social targets in the education sector. The pricing of IFC’s loan
will be linked to Afya reaching performance target levels in
selected social key performance indicators encompassing free
medical consultations for the community and quality of education
according to Brazil’s Ministry of Education criteria
(“Sustainability KPIs”).
According to the financing terms, IFC will loan up to R$500.0
million, which shall be repaid in seven equal semi-annual
installments starting in April 2027. The interest rate is the
Brazilian CDI rate plus 1.2%, and it may be reduced by 15 bps if
the Sustainability KPIs are achieved. The disbursement is subject
to customary closing conditions.
For more information, please visit https://ir.afya.com.br.
About Afya Limited (Nasdaq: AFYA, B3: A2FY34)
Afya is a leading medical education group in Brazil based on the
number of medical school seats, delivering an end-to-end
physician-centric ecosystem that serves and empowers students and
physicians to transform their ambitions into rewarding lifelong
experiences from the moment they join us as medical students
through their medical residency preparation, graduation program,
continuing medical education activities and offering medical
practice solutions to help doctors enhance their healthcare
services through their whole career.
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Investor Relations Contact: Afya Limited ir@afya.com.br
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