Material Fact – Even announces Improved Capital Structure
Even Construtora e Incorporadora S.A., a publicly held company inscribed in the corporate roll of taxpayers (CNPJ/MF) under no. 43.470.988/0001-65 (“Company”), in accordance with Instruction 358 of the Securities and Exchange Commission of Brazil (CVM) of January 3, 2002, as amended, hereby informs shareholders and the market in general that it will lengthen its debt in debenture (“Corporate Debt”) through the execution of two separate but complementary transactions. These transactions involve additional funding operations and the renegotiation of all maturities of its Corporate Debt in fiscal year 2010, as follows:
(i) Contracting of BB-Banco de Investimento S.A. and HSBC Corretora de Títulos e Valores Mobiliários S.A. to carry out the public issue with limited placement efforts, in accordance with CVM Instruction 476 of January 16, 2009, of unconvertible debentures in the amount of R$75,000,000.00 with maturity in 42 months and a firm commitment underwriting agreement; and
(ii) Renegotiation of the installment of R$50,000,000.00 due October 2010 of Even’s 2nd Public Issue of Debentures through the prepayment of R$20,000,000.00 and the extension of the remaining balance to October 2013.
The two transactions will give Even additional cash for fiscal year 2010 and increase its debt by R$55,000,000.00. Consequently, Even will not have any Corporate Debt maturities until mid-2011.
The funding operations through the public issue with limited efforts was approved by Even’s Board of Directors in a meeting held on November 19, 2009.
The terms and conditions of the renegotiation is subject to approval by debentureholders assembled in a meeting to be held in the coming days by the trustee.
São Paulo, November 26, 2009
EVEN CONSTRUTORA E INCORPORADORA S.A.
Chief Financial and Investor Relations Officer
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