Grupo Casas Bahia announces agreement with partner banks and accelerates Transformation Plan
SÃO PAULO, May 1, 2024 /PRNewswire/ -- Grupo Casas Bahia has just closed an agreement with their main creditors, Bradesco and Banco do Brasil, which will preserve R$4.3 billion in cash reserves until 2027, of which R$1.5 billion just in 2024. The agreement includes a grace period of 24 months for interest payments and 30 months for principal payments. The average amortization period goes from 22 to 72 months, with a reduction of 1.5 pp in the average cost, which represents a saving of R$400 million during the period.
- SÃO PAULO, May 1, 2024 /PRNewswire/ -- Grupo Casas Bahia has just closed an agreement with their main creditors, Bradesco and Banco do Brasil, which will preserve R$4.3 billion in cash reserves until 2027, of which R$1.5 billion just in 2024.
- The agreement includes a grace period of 24 months for interest payments and 30 months for principal payments.
- "We are very pleased to have been able to achieve this debt reprofiling, which was only possible thanks to the successful advancement of the operational levers of our Transformation Plan.
- The Grupo Casas Bahia's Transformation Plan is making strong progress.