Mills Estruturas Servicos : informs the release of amounts held in restricted accounts
May 20, 2019 at 08:38 am EDT
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B3: MILS3
Mills Estruturas e Serviços de Engenharia S/A
CNPJ/MF: 27.093.558/0001-15
NIRE: 33.3.00289.74-7
Public Company
Mills informs the release of amounts held in restricted accounts
Mills Estruturas e Serviços de Engenharia SA ("Company") hereby informs that on May 17th, 2019 the full transfer of funds held in restricted accounts of the 2nd and 3rd Issuances of Debentures of the Company was made to its free movement account, in the total amount of approximately R$ 90 million, considering the fulfillment of the conditions set forth in Clause 6.10.4 of the 3rd Amendment to the Indenture, namely, the attainment of the original covenants of the Debentures (Net Debt / Adjusted Ebitda ≤ 3 and Adjusted Ebitda / Net Financial Expenses> 2) for the second consecutive quarter.
The restricted accounts were created at the Debenture Holders General Meetings held on March 22, 2017, as a counterpart of the adoption of the Operating Cash Flow (OCF) to calculate the covenants (Net Debt / OCF ≤ 3 and OCF / Net Financial Expenses> 2), whenever the original covenants were not reached. This measure was fundamental for the Company to remain in compliance with its Debentures obligations in a long period of low economic activity in Brazil, especially in the infrastructure sector, where it was necessary to make relevant internal adjustments, including the closing of branches of Construction business unit.
It is important to note that the release now communicated does not occur due to any change in the current conditions of the debentures indentures, but only results from the attainment of financial indices originally agreed upon as a result of the gradual recovery of Mills' indicators
Mills Estruturas e Serviços de Engenharia SA published this content on 20 May 2019 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 20 May 2019 12:37:02 UTC
Mills Estruturas e Servicos de Engenharia SA is a Brazil-based company primarily engaged in the commercial equipment rental. The Company's activities are divided into two business units: Construction and Rental. The Construction division operates in the heavy construction market and offers construction works and services, including formworks and props, as well as access to non-mechanized equipment, mast climbing platforms and scaffolds for the residential and office building construction sector. The Rental division provides leasing and sale of scissor lifts and telescope handlers for construction, trade and manufacturing markets, among others. The Company operates numerous branches across Brazil.
MILLS LOCAÇÃO, SERVIÇOS E LOGÍSTICA S.A. 
