Indicate by check mark
whether the registrant by furnishing the
information contained in this Form is
also thereby furnishing the
information to the Commission pursuant to Rule
12g3-2(b) under
the Securities Exchange Act of 1934.
Yes ______ No ___X___
COMPANHIA DE SANEAMENTO BÁSICO DO ESTADO DE SÃO PAULO – SABESP
Tax ID (CNPJ) # 43.776.517/0001- 80
Publicly-Traded Company
NOTICE TO HOLDERS OF 5TH DEBENTURE ISSUE
We hereby notify holders of the 5th Series of debentures of Companhia de
Saneamento Básico do Estado de São Paulo – SABESP (the “Company”) that, in
accordance with the terms of item 4.11 of Clause IV of “Registry of 5th Series
Public Issue of Non-Convertible Debentures, in two tranches, unsecured, of
Companhia de Saneamento Básico do Estado de São Paulo – SABESP”, as amended on
April 29, 2002 and May 13, 2002, the Board of Directors of the Company, during
its 595th meeting on September 16, 2003, deliberated on the proposal of the
following conditions for repricing the 5th Series Issue of Debentures (the
“Debentures”), first and second tranches:
(i) The new interest calculation period, during which the conditions remain
unaltered for the first and second series will begin on October 1, 2003 and
terminate on April 1, 2005, upon which date the first amortization payment
for the Debentures is due.
(ii) The Debentures for the first tranches will have rights to interest due on
the unamortized nominal unit value of the Debentures, as established based
on the average change in the overnight Interbank rate (DI) expressed in
annual percentage points, based on 252 days, calculated and set by the
Central Custodian and Financial Liquidation of Securities (CETIP), plus a
spread of 2.0% (two percent) per annum, calculated from the date of
repricing (October 1, 2003), according to the formula established in the
Offering Circular.
(iii)The unamortized nominal unit value of the second tranche of the Debentures
will be adjusted from their date of issue by the IGP-M - General Market
Price Index, as calculated by Fundação Getúlio Vargas, and will have rights
to payment of interest at a fixed rate of 12.7% (twelve and seven tenths of
one percent) per annum. Interest will be paid on the nominal unit value of
the second tranche, as adjusted by inflation and compounded daily, based on
a year of 252 (two hundred and fifty two) working days from the date of
repricing (October 1, 2003), according to a constant formula as per the
Offering Circular.
(iv) Interest of the first tranche of the Debentures following the repricing
will be paid quarterly, as determined by subitem 4.4.1 of item 4.4 of the
4th clause of the Offering Circular on the following dates:
First Tranche
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Interest Payment Payment Date
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1st Payment 01.Jan.2004
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2nd Payment 01.April.2004
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3rd Payment 01.July.2004
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4th Payment 01.October.2004
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5th Payment 01.January.2005
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6th Payment 01.April.2005
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(v) Interest on the second tranche of Debentures, in the new interest
calculation as set forth in sub item 4.4.2 of item 4.4 of the Offering
Circular, will be paid annually on the dates listed below, except that the
payment of monetary restatements will be paid with the payment of the
nominal unit value of the Debentures, which should occur at amortization or
at the next repricing for those Debenture holders who do not agree to the
conditions fixed by the issuer or decide to sell their Debentures due to
the non-publishing of interest payment terms for the following period.
2nd Tranche
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Interest Payment Payment Date
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1st Payment 01.April.2004
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2nd Payment 01. April.2005
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(vi) The Debentures will be subject to the same conditions established in the
Offering Circular that have not been altered by the deliberation described
herein.
The Fiduciary Agent of the Debenture holders is Planner Corretora de Valores
S.A.
The debenture holder that do not agree to the conditions established by the
Board of Directors of the Company published herein may, between the 10th and the
5th working day (including) prior to the termination of the Interest-Paying
Period, or, from September 17 to 24, 2003, manifesting through the respective
custodian the right to exercise the option to sell their Debentures to the
Issuer.
The Company promises to purchase up to the total amount of the Debentures for
which Debenture holders do not accept conditions fixed here for the unamortized
nominal unit value including accrued interest due up to the date of the
effective purchase. The purchase by the Company of Debentures will be realized
on October 1, 2003 with the payment to Debenture holders realized in accordance
with the terms set forth in the Offering Circular. No premium will be owed as a
result of the purchase to which this notice refers.
São Paulo, September 16, 2003.
Finance Department
|
Companhia de Saneamento Básico do Estado de São Paulo - SABESP
| ||
| By: |
/S/
Rui de Britto Álvares Affonso
| |
|
Name: Rui de Britto Álvares Affonso
Title: Economic and Financial Director and Investor Relations Officer
| ||
This press release may contain forward-looking statements. These statements are statements that are not historical facts, and are based on management's current view and estimates of future economic circumstances, industry conditions, company performance and financial results. The words "anticipates", "believes", "estimates", "expects", "plans" and similar expressions, as they relate to the company, are intended to identify forward-looking statements. Statements regarding the declaration or payment of dividends, the implementation of principal operating and financing strategies and capital expenditure plans, the direction of future operations and the factors or trends affecting financial condition, liquidity or results of operations are examples of forward-looking statements. Such statements reflect the current views of management and are subject to a number of risks and uncertainties. There is no guarantee that the expected events, trends or results will actually occur. The statements are based on many assumptions and factors, including general economic and market conditions, industry conditions, and operating factors. Any changes in such assumptions or factors could cause actual results to differ materially from current expectations.