Even extends debt profile to optimize capital structure

Even extends debt profile to optimize capital structure

Even raises R$120 million in a Structured Operation involving the issue of Certificates of Real Estate Receivables (CRI)

São Paulo, August 2, 2013 - Even Construtora e Incorporadora S.A. - EVEN (BM&FBOVESPA: EVEN3), a company with operations in São Paulo, Rio de Janeiro, Rio Grande do Sul and Minas Gerais, and a focus on residential developments with units priced above R$250,000, announces that it concluded on August 1 the raising of R$120 million through a structured operation involving the issue of Certificates of Real Estate Receivables (CRI), which were distributed in the market.

The proceeds from the CRI issue will be used in the construction and development of residential projects. The debt represented by the CRIs is remunerated at the DI interbank rate + 1.35% p.a. The principal amount will be amortized in a single installment on July 31, 2016, and the remuneration of the principal will be paid in six (6) installments due on February 1, 2014, August 1, 2014, February 1, 2015, August 1, 2015, February 1, 2016 and July 31, 2016. The Company may pay the debt in advance as of the thirteenth (13th) month as from August 1, 2013, by submitting a notice at least 15 days prior to the payment.

Below is the new amortization schedule of the corporate debt principal.