SEC Filing Summary: Companhia de Saneamento Básico do Estado de São Paulo - SABESP
Business Context and Reporting Period
This Form 6-K filing, dated October 8, 2004, reports on the conclusion of the public distribution of the company's 6th issue of debentures. The reporting period covers the issuance date of September 1, 2004. SABESP is a publicly-held corporation based in São Paulo, Brazil, operating in the basic sanitation sector.
Key Financial Metrics and Transaction Details
The filing details a specific debt financing transaction rather than providing comprehensive operational financial statements (revenue, profit, cash flow) for the period.
- Total Proceeds: R$ 600,000,000.00 (Six hundred million Reais).
- Instrument: 600,000 simple, unsecured, non-convertible debentures.
- Face Value: R$ 1,000.00 per unit.
- Structure: Issued in three series (ISINs: BRSBSPDBS0L6, BRSBSPDBS0M4, BRSBSPDBS0N2).
- Credit Ratings: Standard & Poor's "brA"; Fitch Atlantic Ratings "A(bra)".
- Program Context: Part of a Securities Distribution First Program filed with the CVM with a total limit of R$ 1,500,000,000.00 over two years.
Material Changes and Distribution Allocation
The filing does not provide comparative financial data versus prior periods. However, it details the allocation of the 600,000 debentures among various purchaser categories:
| Purchaser Category | 1st Series Qty | 2nd Series Qty | 3rd Series Qty | Total Qty |
|---|---|---|---|---|
| Individuals | 210 | 710 | 4,420 | 5,340 |
| Investment Funds | 173,000 | 120,000 | 44,500 | 337,500 |
| Private Pension Entities | 18,000 | 20,000 | 15,000 | 53,000 |
| Intermediary Institution | 4,596 | 31,950 | 120,000 | 156,546 |
| Other Financial Institutions | 33,007 | 15,507 | - | 48,514 |
| Other Legal Entities | 3,000 | 100 | - | 3,100 |
| Total | 231,813 | 188,267 | 179,920 | 600,000 |
Guidance, Outlook, and Risks
The filing includes a standard forward-looking statements disclaimer. Management notes that statements regarding future dividends, capital expenditure plans, and operating strategies are based on current estimates and are subject to risks and uncertainties. There is no guarantee that expected events or trends will occur. The filing does not provide specific quantitative guidance or outlook for the fiscal year ending December 31, 2004.
Key Facts for Investor Verification
- Verify the final interest rates and maturity dates for the three debenture series, as the filing only confirms the face value and issuance date.
- Confirm the remaining capacity under the R$ 1.5 billion Securities Distribution First Program.
- Review the full credit rating reports from Standard & Poor's and Fitch to understand the specific outlook (positive, stable, or negative) associated with the "brA" and "A(bra)" ratings.
- Check subsequent filings for the actual use of proceeds from the R$ 600 million issuance.