Even optimizes its capital structure extending the debt profile

Even raises R$150 million in a structured operation involving the issue of MBS

São Paulo, May 26, 2014 – Even Construtora e Incorporadora S.A. – EVEN (BM&FBOVESPA: EVEN3), with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais and focused on residential projects with price starting at R$250,000, hereby announces that, on May 22, it concluded an operation to raise R$150 million through a structured operation involving the issue of two (2) series of Certificates of Real Estate Receivables (CRI), which were distributed in the market.

The proceeds from the CRI operation will be used to build and develop residential real estate projects. The debt backing up the CRI of the 27th series, equivalent to R$50,100,000.00, will be remunerated at the DI rate + 1.5% p.a., while the debt backing up the CRI of the 28th series, equivalent to R$99,900,000.00, will be remunerated at the DI rate + 0.35% p.a.

The principal amount will be amortized in a single installment on May 6, 2024, and the remuneration due will be paid on a half-yearly basis. The operation may be subject to one or more renegotiations, with first date for renegotiation set for May 6, 2017, by proposal of the Company, therefore subject to investors’ agreement, provided that the final maturity date of the CRI is maintained and respected. Furthermore, the Company may pre-pay the debt as of the 13th month counting from May 6, 2014.

In order to download the PDF, please click here.

Cordially,

Dany Muszkat
CFO and IRO