MADRID, 14 Nov. (EUROPA PRESS) -
Eroski has announced the launch of an offer of 500 million euros in aggregate nominal amount of senior secured bonds at a fixed rate maturing in 2029 with the purpose of refinancing its debt, as reported this Tuesday to the National Securities Market Commission ( CNMV).
The company has indicated that these bonds will have real guarantees and the guarantee of one of the company's subsidiaries.
Eroski has explained that the interest will be paid semiannually, although both this, as well as the price of the offer and the nominal amount of the bonds, along with other issues, will be determined at the time of setting the terms of the offer, taking into account take into account market conditions.
The net funds from this offering, together with others obtained through certain financial instruments, as well as the net proceeds from the future sale of certain real estate assets, will be used by Eroski to refinance part of the existing debt, pay interest accrued and the payment of commissions and related expenses.
The distribution chain of the Mondragón Corporation warns that "there is no assurance that the offer will be completed" and explains that these bonds will be senior to all of the company's debt, existing or future, that is subordinated to the bonds, ( including AFSEs and OSEs).
Likewise, they will be 'pari passu' with the existing or future obligations of Eroski that is not subordinate (except in those cases in which the obligations are preferential by legal imperative).