Elvalhalcor: At 2.40% -2.90% the bond yield range

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The yield range of the 7-year common bond loan with a total amount of 250 million euros is set at 2.40% -2.90%, according to an announcement by Elvalhalcor. Its public offering will start tomorrow, November 10, and will end on November 12.

The announcement of the company in detail.

Pursuant to the decision of the General Assembly dated 5.11.2021 and the decision of the Board of Directors of “ELVALHALCOR HELLENIC COPPER AND ALUMINUM INDUSTRY SOCIETE ANONYME SOCIETY OF 5.11.2021″ (hereinafter referred to as ”

(a) the issuance of a common, interest-bearing, bond loan by the Issuer (hereinafter the “Bond Loan” or “KOD”), based on the provisions of articles 59-74 of Law 4548/2018, as in force, and all provisions of Law 3156/2003 remain in force after the entry into force of Law 4548/2018 as well as the provisions of Law 3371/2005, (the “Issue”) total amount up to the amount of two hundred and fifty million euros (€ 250,000,000, 00) and lasting seven (7) years without the provision of collateral, divided into up to 250,000 intangible, common, anonymous bonds with a nominal value of € 1,000 (hereinafter the “Bonds”), as well as the approval of the more specific terms of the Code, which are the COD program (hereinafter the “COD Program”),

(b) that the Bonds will be available for coverage through a Public Offer within the Greek Territory to the entire investing public, ie to special and private investors, within a period of three (3) working days during which the coverage of the Bond Loan will be carried out (hereinafter the “Public Offer”), using the service of the Electronic Book of Offers of the Athens Stock Exchange (hereinafter the “H.B.P.”), will be registered in the DSS. and will be admitted to trading in the Fixed Income Securities Category of its Regulated Market
Athens Stock Exchange,

(c) that the sale price per Bond is set at par, ie at € 1,000 per Bond. If the COD is not covered in the amount of at least € 200,000,000, the issuance of the Bond Loan will be canceled and the amount corresponding to the participation value committed for each Private Investor will be released within two (2) working days at the latest.

Determination of final yield and interest rate of bonds

The determination of the yield and the interest rate of the Bonds (hereinafter the “Interest Rate”), will be done through the procedure of the book of offers (“Book Building”), which will be kept by the Coordinators Principal Contractors, and will be carried out through the procedure H. ΒΙ.Π. In the H.B.P. Only Special Investors participate. Further, the Interest Rate and the final yield will be determined by the Coordinators Principal Contractors with the HBIP process, according to the specific provisions of the Prospectus, will be approved by a person authorized by the Board of Directors of the Issuer and will be announced to Website of the Company and on the website of the Athens Stock Exchange no later than the next working day after the period of the Public Offering.

The yield range, which was determined by the Coordinators Principal Contractors and within which the Special Investors will submit the Coverage Applications, is as follows:

RANGE Minimum Yield Maximum Yield

2,40%                             2,90%

The final yield and the Interest Rate will be notified to the Hellenic Capital Market Commission and will be published on the Website of the Issuer and the ATHEX. no later than the next working day after the completion of the Public Offer.

The criteria and conditions on the basis of which the final yield and the Interest Rate will be determined include the bond market conditions, the amount of demand per yield from Special Investors, the number and type of Special Investors, the amount of demand from Private Investors ( to the extent that the final distribution to them exceeds the minimum allocation rate of 30%) and the cost of servicing the bond issue that the Issuer intends to undertake.

Indicatively, if the demand from Special Investors covers the Issue up to the ceiling of the yield range but at the same time a significant part of the Issue is covered at a lower yield level, the lowest yield may be selected, even if this results in
lower amount of funds raised and subject to the fulfillment of the condition for the issuance of the Bonds.

Simultaneously with the determination of the final yield, the final distribution of the Bonds will be decided. In any case, the Interest Rate will be set within the announced binding yield range.

The Interest Rate and the Offering Price will be common for all investors, Special Investors and Private Investors, who will participate in the issuance of Bonds with Public Offering.

Within two (2) working days from the end of the Public Offering, the Coordinators, Main Contractors, will issue a detailed announcement on the outcome of the Public Offering, including the Interest Rate, which will be published in the ATHEX Daily Price Bulletin.

Detailed information on the final yield and the interest rate is provided in section 4.3.3 “Determination of the Final Yield and Interest Rate of Bonds with Public Offering through a Bid Book” of the Prospectus.

See more in the relevant files on the right


Source From: Capital

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