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Brasilagro Brazilian Agric Real Estate Co Sponsored ADR (Brazil) (NYSE:LND) Q2 2023 Earnings Call Transcript

BrasilAgro Companhia Brasileira de Propriedades Agrícolas : 3Q21 Results

02 MESSAGE FROM MANAGEMENT 2021 is turning out to be a very promising year for BrasilAgro. At the beginning of the year, we announced a follow-on offering, in which we raised more than R$500.0 million. With the resources we have already acquired 9,800 hectares of land in Bolivia and still working to continue the Company s growth strategy. In addition, we reinforced the capital structure, with the issuance of R$240 million in CRAs (Agribusiness Receivables Certificates), which will be used to accelerate the transformation of the portfolio. With the issuance, the company extended the debt profile from a duration of 1.2 years to 2.5 years, with a 7-year maturity. The Company s debt represented 87.2% of the CDI (Interbank deposit) rate and after issuance, it now represents 98.8% of the CDI rate, a very attractive cost of capital, below the CDI.

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