By Rebecca Melvin
Concord, N.H., May 7 – PRFoods AS plans to price up to €1 more 6¼% secured notes due Jan. 22, 2025, according to a company news release on Friday.
The company is also planning to price up to €3.5 million subordinated convertible notes due Sept. 1, 2025 with a 7% interest rate.
The tap-issue of secured notes is to be conducted by way of a targeted offer to PRFoods’ shareholder Amber Trust II S.C.A in the second quarter.
The proceeds of the Regulation S issue will be used to facilitate refinancing of an investment loan granted to PRFoods by the shareholder. By issuing the secured notes under the tap-issue, PRFoods will meet the maximum issue amount allowed under the terms.
PRFoods is a food production company based in Tallinn, Estonia.
| Issuer: | PRFoods AS
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| Issue: | Secured notes, add on
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| Amount: | Up to €1 million
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| Maturity: | Jan. 22, 2025
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| Coupon: | 6¼%
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| Concurrent issue: | €3.5 million subordinated convertible notes
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| Distribution: | Regulation S
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