PRFoods pushes back repurchase of €1.42 million secured notes

By Mary Katherine Stinson

Lexington, Ky., Dec. 20 – PRFoods AS decided to again postpone its previously announced buyback of €1,423,500 nominal value, or about 13%, of its secured notes due Jan. 22, 2025 (ISIN: EE3300001577), according to a notice.

The company said the repurchase of the notes will now settle no later than Jan. 31, pushed back from Dec. 20. It was originally scheduled for Nov. 30 but, at that time, the issuer stated a postponement was necessary because of “technical obstacles” that were independent of the issuer. Settlement was previously pushed back from Nov. 13.

The notes will be purchased par, plus accrued interest.

The buyback is the result of an offer that had €1,638,200 nominal amount, or 14.9%, submitted, as previously reported.

The buyback submission period ended on Nov. 7.

The settlement of the buyback of the notes is planned to be financed from the proceeds of the transactions discussed in a stock exchange announcement published on Dec. 6.

To approve the transactions, PRFoods decided to convene an extraordinary meeting of shareholders.

The company decided to postpone the settlement date of the buyback so the settlement takes place after the extraordinary general meeting of shareholders, the fulfillment of other preconditions for the transaction and the completion of the transactions.

PRFoods is a food production company based in Tallinn, Estonia.

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