(Photo: Disclosure)
Vert Securitizadora, issuer of the Agribusiness Receivables Certificate (CRA) linked to the debentures of AgroGalaxy (AGXY3) called a general meeting of shareholders for October 15.
According to the statement, AgroGalaxy's default of R$77.6 million in amortization and interest, due on September 16, resulted in the automatic early maturity of all obligations arising from the indenture. The amount includes R$71.4 million in ordinary amortization and R$6.1 million in ordinary interest, which are part of a R$500 million issuance due in September 2027.
To install the assembly, a quorum representing 50% + 1 of the CRAs in circulation will be required. If necessary, a second call may be made, with a simple majority of those present.
In the document, Vert highlights that if the action plan implies changing the following items, such deliberations depend on the approval of 90% of the CRAs in circulation in the 1st or 2nd call:
- amortization of Debentures and CRAs;
- remuneration of Debentures and CRAs;
- maturity date and value of Debentures and CRAs;
- exclusion of Events of Default;
- of the deliberation quorums provided for in this Securitization Term; or
- exclusion, reinforcement or reduction of the Bail.
AgroGalaxy's debt
AgroGalaxy reported total liabilities of R$4.67 billion in its request for judicial recovery.
Among the company's largest creditors, Vert Companhia Securitizadora stands out, responsible for structuring AgroGalaxy's Agribusiness Receivables Certificates (CRAs), which total R$516.4 million.