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FirstFarms posts results of offer to extend convertibles due 2020
By Wendy Van Sickle
Columbus, Ohio, May 13 – FirstFarms A/S announced the results of its offer to prolong its convertible bonds issued in 2015.
A total of 12 bondholders, representing DKK 23,785,485 principal amount, chose to extend their convertibles by three years, and the remaining five holders elected to extend their bonds by one year, according to a company news release on Wednesday.
The company offered on April 23 to extend the convertible bonds by one or three years, with the extension to be from expiration of the existing bonds on Dec. 15.
The company said the purpose of this offer is to strengthen its cash resources.
Based in Billund, Denmark, FirstFarms invests in Eastern European farms.
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