CVC Brasil Operadora e Agência de Viagens S.A. (B3: CVCB3), Brazil’s largest travel and tourism agency, said it will carry out an extraordinary optional amortization of R$150 million (US$28 million) in debentures from its 4th and 5th issuances by Sept. 30, 2025. The amount corresponds to 27% of the outstanding balance of each issuance.
Including accrued interest and a 0.5% premium on the prepaid balance, the company estimates the total payout could reach R$196.5 million (US$37 million). The measure was approved by the board and is allowed under the terms of the debenture deeds.
“The extraordinary payment underscores CVC’s commitment to deleveraging and financial discipline,” said Felipe Pinto Gomes, the company’s CFO and investor relations officer.
What’s at stake
The initiative follows the operational turnaround launched in June 2023 and efforts to strengthen working capital. According to the company, the move reduces leverage and cost of capital while preserving liquidity for future investments.
As reported by Brazil Journal, CVC’s total debt stands at R$985 million (US$186 million), of which R$550 million (US$104 million) are debentures. The R$150 million prepayment is part of a deleveraging strategy initiated two years ago as the travel giant seeks to recover margins and regain competitiveness in Brazil’s tourism sector.