OREANDA-NEWS. October 5, 2011. Companhia Providencia (Bovespa: PRVI3), a leader in the manufacture and commercialization of nonwovens in Brazil and  global operations, announces the advanced payment in full of the 1st issue of simple debentures in free float. Payment will be on October 31, 2011 to a total Nominal Value balance of BRD 100.5 million, plus a premium of BRD  422.2 thousand payable on top of the total balance, as well as pro rata temporis interest defined in the deed of issue.

The  Company also announces that it has arranged a credit line for BRD 100 million as pre-payment for export, maturing in seven years – including a two-year grace period and interest rate linked to the CDI.

 “In this way we reach a better maturity of the debt profile of Companhia Providencia, as the bulk of the debentures matured in November of this year and in November of 2012”, commented Eduardo Feldmann, CFO of Companhia Providencia. “Now we have similar financing with an average maturity of nearly five years”, concluded the executive.

In addition, Companhia Providencia also announced its 3rd Share Buyback Program. The program aims to buy back 2.26 million shares, 10% of the total number of common shares in free float, in up to 365 days, to hold as treasury stock or for cancellation.