Maldonado Trust- Issuance

República AFISA issued Debt Securities of the Maldonado I Financial Trust, with strong demand.

On August 30, BEVSA awarded the Debt Securities of the Maldonado Financial Trust, for a total of UI 466.5 million.

The cut-off price amounted to 105.6 and the total demand reached UI 1,100 million, which represents more than 2 times the maximum amount to be issued.

Interest will be paid quarterly, while capital amortization will be annual and will begin in February 2023.

In February 2023, there will be an accelerated redemption option for a maximum total Nominal Value equivalent to 1/14 of the amount issued with an individual cap on the Nominal Value of UI 500,000. The exercise price of the option will be equivalent to 99.5% of the issue price (Dutch method).

The capital of the Debt Securities remaining after the Initial Amortization, will be amortized in 13 equal and consecutive annual installments in each month of February from February 2024, pro rata and at par.

The support for the repayment of the Debt Securities is the assignment of part of the present and future credits that the Municipality is entitled to receive from the SUCIVE Trust.

Republica AFISA acts as Trustee and Paying Agent of the Trust.