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Ser Educacional SA

06/15/2021 | Press release | Distributed by Public on 06/16/2021 07:00

Material Fact - Ser Educacional and IFC enter into an agreement for R$200 million long-term financing

Ser Educacional and IFC enter into an agreement for
R$200 million long-term financing

Recife, June 15, 2021, Ser Educacional S.A. (B3 SEER3) ('SER'), one of the largest private education groups in Brazil and leader in the Northeast and North regions, in compliance with the terms of Law No. 6.404/1976 and CVM Instruction No. 358/2002, hereby informs its shareholders and the market in general that on June 15, 2021, a loan was entered into with the International Finance Corporation (IFC), a member of the World Bank Group, to strengthen Ser Educacional's growth strategy and digital transformation, in the total amount of two hundred million Brazilian reais (R$ 200,000,000.00), with a term of 7 years, to be paid semiannually in 11 installments as of April 2023.

Financing will be granted in Brazilian reais and will be remunerated at an average interest rate of CDI+2.55% p.a. in the first tranche of one hundred and sixty-five million Brazilian reais ( $165,000,000.00) and the second tranche of thirty five million Brazilian reais (R$35,000,000.00), which will be disbursed together and proportionally to the first tranche, with an interest rate defined according to market conditions at the time of disbursement.

Proceeds will ensure investments in the updating of distance learning platforms for students and the development of products to help educational units face the crisis caused by the pandemic. In addition to strengthening the digital platform, such financing will also support working capital, integration and merger of new students acquired through acquisitions.

According to Jânyo Diniz, Ser Educacional group's CEO, the company keeps going ahead with investments. 'Our expansion plan proceeds by assessing assets and investing in the digital modality. In 2020, we made some acquisitions of Edtechs and we are expanding our presence in distance learning. IFC's contribution has helped us along this path', says the CEO.

This is IFC's third investment in Ser Educacional since 2010 being the last loan held in 2015, when IFC announced a US$40 million investment (equivalent at the time to R$120 million) to support the Group's expansion through the construction of two new campuses, renovation and modernization of existing campuses, and new acquisitions.

João Aguiar, Ser Educacional's CFO, commented that 'IFC is a very important partner, which, in addition to being a long-term shareholder, brought differentiated financing alternatives, with longer terms and an intelligent payment format, which enabled Ser Educacional to access capital in a manner more compatible with the Company's strategic plan'.

SER will keep the market informed of subsequent material facts about the Transaction and the Investor Relations area will be available to clarify any doubts.

To access the Material Fact, click here.

Rodrigo de Macedo Alves
Investor Relations Officer

Investor Relations Contact:
Rodrigo de Macedo Alves and Geraldo Soares de Oliveira Júnior
Phone: +55 (11) 2769 3223 | E-mail: [email protected]| www.sereducacional.com/ir

Media Relations
Silvia Fragoso | (+55 81) 98228-2086 | [email protected]

Loures Consultoria
Ludmilla Gutierrez | [email protected]

ABOUT GRUPO SER EDUCACIONAL
Founded in 2003 and headquartered in Recife, Grupo Ser Educacional (B3 SEER3) is one of the largest private education groups in Brazil and leader in the Northeast and North regions in terms of number of students enrolled. The Company offers undergraduate, graduate, vocational and distance learning courses in 26 states and the Federal District, with a consolidated base of around 218.1 students. The Company operates under the following brands UNINASSAU, UNINASSAU - Centro Universitário Maurício de Nassau, UNINABUCO - Centro Universitário Joaquim Nabuco, Faculdades UNINABUCO, Escolas Técnicas Joaquim Nabuco e Maurício de Nassau, UNIVERITAS/UNG, UNAMA - Universidade da Amazônia e Faculdade da Amazônia and UNIVERITAS - Centro Universitário Universus Veritas, Faculdades UNIVERITAS, UNINORTE - Centro Universitário do Norte, Centro Universitário de Ciências Biomédicas de Cacoal - UNIFACIMED, UNIJUAZEIRO - Centro Universitário de Juazeiro do Norte, Sociedade Educacional de Rondônia - UNESC and Centro Universitário São Francisco de Barreiras - UNIFASB.

This notice may contain forward-looking statements related to business prospects, estimates of operating and financial results and the growth prospects of Grupo Ser Educacional. These are merely projections and, as such, are solely based on the expectations of the Management of Grupo Ser Educacional. Such forward-looking statements are substantially dependent on external factors, in addition to the risks presented in the disclosure documents filed by Grupo Ser Educacional and are therefore subject to change without prior notice.