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Pescanova subscribed 2,200 bonds that will enter negotiation in the Euro MTF Market of the Luxembourg Exchange. (Photo: Iff.lu/FIS)
Pescanova issues convertible bonds worth EUR 110 mln
SPAIN
Wednesday, March 10, 2010, 23:50 (GMT + 9)
The group Pescanova finalised the issuance of convertible bonds in shares worth 110 EUR million in only 10 days from the subscription and pay out of the totality of the same, the company informed.
Pescanova subscribed and disbursed a total of 2,200 bonds of EUR 50,000 in nominal value each, which will be listed in the Euro MTF Market of the Luxembourg Stock Exchange.
The issuance of these bonds is aimed at qualified investors outside Spain, and was managed by banks BNP Paribas and BPI, the same institutions that participated in the raising of EUR 110 million in capital carried out by the Galician food company late last fiscal year.
The funds derived from the subscription is expected to cover the general financing needs of Pescanova and to prolong the average maturity of the debt, fortifying its financial resources and diversifying its financing sources, firm sources revealed to Europa Press.
In late 2009, the net debt of the Spanish multinational reached EUR 545 million.
Pescanova earned EUR 32.09 million last year, with sales of EUR 1.473 million, almost 10 per cent more than in 2008.
In 2009, Pescanova sales in the international markets represented 47 per cent of the total, the largest percentage in the company’s history. Some 12 per cent of sales went to the US, 24 per cent to Europe (excluding Spain) and 11 per cent to other countries.
Related articles:
- Pescanova rakes in EUR 32.1 mln in 2009
- Pescanova increases capital by EUR 100 mln
By Analia Murias
[email protected]
www.seafood.media
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