Agri Resources Group S.A.
Agri Resources Group S.A. issues 8.00% Sustainability Bond with a volume of up to EUR 50 million
DGAP-News: Agri Resources Group S.A.
/ Key word(s): Issue of Debt
Agri Resources Group S.A. issues 8.00% Sustainability Bond with a volume of up to EUR 50 million
Luxembourg, 17 February 2021: Agri Resources Group S.A. (the Company), an international specialist in the sustainable cultivation and processing of agricultural products in Africa and Europe, is issuing a corporate bond (ISIN: DE000A287088) with a volume of up to EUR 50 million at a coupon of 8.00% p.a. over a term of five years. Interested investors may place subscription orders as part of a public subscription offering in the Federal Republic of Germany and in the Grand Duchy of Luxembourg from 24 February 2021 to 10 March 2021 (12:00 CET) via the subscription functionality “Direct Place” of the Frankfurt Stock Exchange (Frankfurter Wertpapierbörse) in the trading system XETRA. At the same time, futurum Bank AG, acting as bookrunner, will conduct a private placement exclusively to qualified investors in Germany and certain other European countries. Moreover, holders of the existing 8.00% notes 2016/2021 with a nominal amount of EUR 10,000 each (ISIN: XS1413726883) may exchange their notes 2016/2021 at an exchange ratio of 1 to 10 for the offered new 8.00% notes 2021/2026 with a nominal amount of EUR 1,000 each pursuant to the terms of a public exchange offer (incl. multiple purchase option) from 19 February 2021 to 5 March 2021 (12:00 CET). In addition, Investors participating in the exchange offer will receive the accrued interest. The new bond qualifies as a Sustainability Bond according to the definition of the International Capital Markets Association (ICMA). In a second party opinion, Vigeo Eiris, an affiliate of Moody’s and global leader in ESG assessments, data, research, benchmarks and analytics, confirms that Agri Resources Group’s sustainability bond framework is aligned with the four core components of the ICMA Green and Social Bond Principles. In addition, Vigeo Eiris expresses a reasonable assurance (equivalent to the highest level of assurance according to Vigeo Eiris’ internal scales of assessment) of Agri Resources Group’s commitments and the bond’s contribution to sustainability. The proceeds raised by the bond will be used to finance and refinance a combination of preselected and vetted green and social projects. Specifically, the focus of Agri Resources Group is on the further development of its activities in Madagascar, Ghana, Mauritius and Benin. These activities are centered mainly on three categories: further development of current sustainable agriculture activities, new projects for environmentally sustainable management of living natural resources and land use, and new projects for socioeconomic advancement and empowerment. The qualification as a Sustainability Bond underlines Agri Resources Group’s commitment to the SDGs, which is a fundamental part of the company’s strategy and a key success factor. Agri Resources Group targets notably, but not only, the following SDGs: 1 No Poverty, 2 Zero Hunger, 8 Decent Work and Economic Growth, and 15 Life on Land. Agri Resources Group cooperates with partners to help achieve these objectives, including with local community based organizations, private sector alliances, third party certification agencies, and leading development funders. Frédéric Dalmasie, CEO of Agri Resources Group: “The sustainable development of our activities has strongly contributed to our growth. From our point of view, the use of proceeds of our Sustainability Bond will enable us to further strengthen our Environment & Social impact, and it also represents a real added value – both for our existing investors and for potential new ones. Our existing bondholders are also investing in a company that is already in a completely new growth phase in the event of an exchange or an extended investment.” Agri Resources Group is targeting double-digit annual growth in revenue through 2024. Earnings are also expected to grow disproportionately strongly. Key growth drivers are e.g. the steadily increasing demand for basic foodstuffs in the African market and the rising demand for specialties in Europe. Agri Resources Group is strongly positioned to benefit from these drivers, for example with rice and soybean cultivation in African countries such as Ghana or the Republic of Congo, or with the cultivation and processing of United States Department of Agriculture (USDA) certified organic vanilla in Mauritius. The securities prospectus was approved today by the Luxembourg Financial Markets Authority, Commission de Surveillance du Secteur Financier (CSSF), and notified to the German Federal Financial Supervisory Authority (BaFin) and is available on the website of Agri Resources Group S.A. (www.agri-resources.com/bond). The new bond 2021/2026 is planned to be admitted to trading in the Open Market of the Frankfurt Stock Exchange in the Quotation Board segment on 17 March 2021. Key data of the Sustainability Bond 2021/2026
17.02.2021 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG. |
Language: | English |
Company: | Agri Resources Group S.A. |
8 rue Dicks | |
L-1417 Luxembourg | |
Luxemburg | |
Phone: | +352 2799 0145 51 |
Internet: | www.agri-resources.com |
ISIN: | XS1413726883 |
WKN: | A183JV |
Listed: | Regulated Unofficial Market in Frankfurt, Munich |
EQS News ID: | 1168610 |
End of News | DGAP News Service |