Financial Debt on September 30, 2016 was R$ 1,112.6 million, 33.9% less than December 31, 2015.
Taking into consideration cash, cash equivalents and FIDC Subordinated Quotas of R$ 693.3 million, the Net Debt at the end of September 2016 was R$ 419.3 million.
Foreign currency debt was US$ 188 million on September 30, 2016, including charges up to that date (US$ 266 million on December 31, 2015).
The breakdown of financial debt is represented in the table below:
|Financial Debt Position in||
|(In R$ thousand)||Charges||Current||Long Term||Total||Total||Chg.|
|Social Security Entity (*)||-||297,914||49,652||347,566||490,835||-29.2%|
|Total of Financial Debt (1)||6,820||614,609||491,167||1,112,596||1,682,866||-33.9%|
|Cash and Cash Equivalents FIDC Subordinated Quotas||-||631,100||62,152||693,252||640,116||8.3%|
|NET DEBT (1) – (2)||6,820||16,491||429,015||419,344||1,042,750||-59.8%|
(*) Note: Debt Agreements with CESP Foundation, net of R$ 347.6 million for the CPC setting 33 have zero balance in non-current liabilities on 09.30.2016. Subsequent events: on Oct/16 an addendum to the BSPS debt confession agreement was signed with Fundação CESP, extending the maturity to 2027.