Officer Raises R$ 50 Million in its First Debenture Issue, Focused on Growth Projects
Size of the raise demonstrates confidence in the largest Brazilian technology distributor and enables continued expansion
SAO PAULO, July 6, 2012 /PRNewswire/ -- Officer, the leader in the Brazilian IT distribution market, with a track record of 27 years of operations, completed its first issue of non-convertible debentures. With this operation, the company raised R$ 50 million by issuing 5,000 securities with a unit value of R$ 10,000 to mature in five years. The operation was coordinated by the Investment Bank of Banco do Brasil. The yield will be 119.50% of the CDI (Brazilian yield index), with semiannual payments starting at 18 months.
The purpose of the issue is to further enhance Officer's financial position and support the company's growth that is driven by demand for technology and for consumer electronics in all regions of the country. "Securing access to lower cost long-term capital is key to meeting our strategic growth goals," said Mauricio de Sousa, the company's Chief Financial Officer. In 2011, the company grew over 20%, reaching R$ 1.4 billion in sales.
This first issue of debentures by Officer has the full support of Ideiasnet, a venture capital firm that owns 100% of Officer. For Sami Haddad, CEO of Ideiasnet, "Officer is experiencing remarkable growth in Brazil and is an exemplary operation in its segment. The funding will help it reach its business objectives in the medium and long term while improving the financial structure of the company and supporting its rapid growth."
Additionally, Officer has invested in growth opportunities including the acquisition of BP Solutions in 2010. Now, with the acquisition of BP already integrated, this capital raise from the debentures will enable enhanced product offerings and solutions for its customers and partners by investing in complementary services, such as reverse logistics in order to comply with the Solid Waste Law, among other investments deemed strategic for the company.
Performing in the country for 27 years, Officer is a Brazilian pioneer in the distribution of computer products. With a track record that is part of national technology history, the company credits its success to its relationship with the 13,000 active dealers that are part of its network. Officer provides access to technological innovation, cutting-edge solutions and business tools that meet the needs its partners. The company has distribution centers and regional offices in Porto Alegre and Curitiba, which enable coverage of southern Brazil. Currently, Officer distributes the following brands: Adobe, APC, Apple, CA, Corel, Epson, Fujitsu, Gigabyte, HP, IBM, Intel, Lenovo, Lexmark, LG, Linksys by Cisco, Microsoft, Netgear, nVidia, Oracle, Philips, Positivo, Red Hat, Samsung, Sony, Symantec and VMware.
Ideiasnet (IDNT3:BZ) is a venture capital firm that invests in fast growing Brazilian technology companies in the areas of Digital Commerce, Digital Media, SaaS - Software as a Service and Mobile, sharing experiences and offering support to accelerate their development. Its portfolio is composed by AUTOMATOS, BOLSA DE MULHER, CIASHOP, IMUSICA, MOIP, OFFICER, PADTEC, PINI, SOFTCORP, SPRING WIRELESS, TECTOTAL and ZURA!
Agencia Ideal – Brazil
Fabio Sabba – email@example.com (+55 11 3035-2161)
Melissa Amorim – firstname.lastname@example.org (+55 11 3035-2187)
Adriana Lutfi – email@example.com (+55 11 3035-2424 | 11 7565-2753)
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