AgroGeneration to launch €67.52 million offering of 8% convertibles

By Jennifer Chiou

New York, March 6 – AgroGeneration SA announced that the subscription period for its issue of up to €67,516,000 of convertible bonds in the Osrane structure will open on March 10 and end on March 20.

The offering was originally announced as €65 million in size back in December.

The 8% bonds will be issued at par of €100 each and will mature in 2019.

According to a company release, the exchange rate will be 192 existing shares for each Osrane, or obligations subordonnees remboursables en actions nouvelles ou existantes.

The company previously said it is aiming to replace €55 million of existing debt and to raise €10 million in cash.

AgroGeneration already obtained approval from its principal stockholders for the transaction, including Konkur, which is anticipated to be among those subscribing for €57,586,534 of the bonds.

The Osranes will be listed on Alternext Paris.

Questions may be directed to investisseurs@AgroGeneration.com or 01 56 43 68 60.

The issuer is a Paris-based agricultural commodities producer, which cultivates grain and oilseeds in Ukraine and Argentina.

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