By Sarah Lizee
Olympia, Wash., Nov. 6 – Rapala VMC Corp. priced a €25 million 5¼% hybrid bond on Wednesday, according to a press release.
The interest rate will reset on Nov. 13, 2021 and will be redetermined every two years after that.
The hybrid bond has no maturity date but is callable after two years.
OP Corporate Bank plc is the lead manager.
The company said the bond was oversubscribed and will strengthen its capital structure and financial position.
Rapala is a fishing tackle company based in Helsinki, Finland.
| Issuer: | Rapala VMC Corp.
|
| Issue: | Hybrid bond
|
| Amount: | €25 million
|
| Maturity: | Perpetual
|
| Manager: | OP Corporate Bank plc
|
| Coupon: | 5¼% initially, to be reset every two years
|
| Call: | Callable after two years
|
| Pricing date: | Nov. 6
|
| Issue date: | Nov. 13
|
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