€ 110m Bond Issue at Agrana
The Austrian sugar and starch manufacturer places € 110m bonded loan with maturities of five, seven and ten years.
For the first time, Agrana Beteiligungs-AG has successfully placed a bonded loan for over € 110m on the euro capital market. This transaction was supported by Landesbank Hessen-Thüringen (Helaba) and Raiffeisen Bank International (RBI).
The placement entailed offering bonded loans with a maturity of five and seven years with both fixed and floating coupons. In addition, there was also a ten-year tranche with a fixed coupon. Due to the high level of demand on the part of investors, the transaction was significantly oversubscribed, as a result of which the volume originally planned was increased to €110m. The spread of both tranches with the shorter maturities was set at the lower end of the marketing range.
The funds from the bonded loan issue will be used for general corporate financing purposes and are intended to further diversify the funding structure.
With approximately 8,000 personnel at 53 production facilities in 26 countries, the Austrian refiner of agricultural raw materials generates global revenues of over €2bn, has a market capitalisation of €1.2bn (29 February 2012), and is listed on the Vienna Stock Exchange.