MADRID, 17 Nov. (EUROPA PRESS) -
Eroski has placed an offer of senior guaranteed bonds for a nominal amount of 500 million euros at a fixed rate of 10.625% and maturing in 2029, as reported by the company, which has indicated that interest will be payable semiannually.
The distribution chain of the Mondragón Corporation expects that the closing of the offer will take place on November 30, although this is still subject to certain conditions common in this type of operations.
Additionally, Eroski has signed a framework agreement for working capital lines, as well as a loan contract for an amount of 112.8 million euros and maturing in 2029 with the entities Laboral Kutxa, Kutxabank, ICO, Sareb and Mondragon Inversiones, and another bridge loan contract of 35 million euros maturing in 2025 with BNP Paribas and Deutsche Bank.
Eroski has explained that the net proceeds from this offering, together with the funds obtained under the signed financial agreements, will be used to repay debt and pay accrued interest and related fees and expenses.