Bonds issued by RO agribusiness group Agricover start trading on BVB
The first bond issue of Agricover Holding, a leading player in the Romanian agribusiness sector, will start trading on the Bucharest Stock Exchange (BVB) on March 29.
Andrei Chirileasa · Journalist
· Updated · 1 min read
The first bond issue of Agricover Holding, a leading player in the Romanian agribusiness sector, will start trading on the Bucharest Stock Exchange (BVB) on March 29.
The company carried out a private placement at the end of January and attracted EUR 40 mln from investors.
The bonds are denominated in euro and have a face value of EUR 50,000. The bonds are not guaranteed, have a 5-yrs maturity and a 3.5% yearly coupon.
The group will use the funds raised through the bond issue to finance its subsidiary Agricover Credit IFN and support its growth strategy, which envisages maintaining an accelerated increase in farmer lending, comparable to that recorded before 2020.
The majority shareholder of Agricover Holding is Jabbar Kanani, who holds an 87.3% stake. The European Bank for Reconstruction and Development (EBRD) owns 12.7% of the group's shares.
The group serves a portfolio of over 6,500 farmers' customers, who exploit over 2.5 million hectares of arable land nationwide.
(Photo: Diana Oros/ Inquam Photos)
