By Jennifer Chiou
New York, March 31 – AgroGeneration SA announced that it has priced €59,575,300 of convertible bonds in the Osrane structure under its offering that had a subscription period of March 10 to March 20.
According to a company news release, the issuer was offering up to €67,516,000 of the convertibles. The size was originally announced as €65 million back in December.
The 8% bonds were issued at par of €100 each and will mature in 2019.
The exchange rate will be 192 existing shares for each Osrane, or obligations subordonnees remboursables en actions nouvelles ou existantes.
AgroGeneration previously obtained approval from its principal stockholders for the transaction, including Konkur, which was anticipated to be among those subscribing for €57,586,534 of the bonds.
Of the 595,753 bonds, €57,697,100 was issued to offset claims with €1,878,000 issued with preferential subscription rights.
The company previously said it was aiming to replace €55 million of existing debt and to raise €10 million in cash.
The Osranes were to be listed on Alternext Paris beginning on March 31.
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.
| Issuer: | AgroGeneration SA
|
| Issue: | Convertible bonds in Osrane structure
|
| Amount: | €59,575,300
|
| Maturity: | April 1, 2019
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Exchange rate: | 192 shares per Osrane
|
| Settlement date: | March 31
|
| ISIN: | FR0012600872
|
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