Of Thanks to Floudopoulos
The period of the public offer of the joint bond loan of ELVALHALCOR starts today, which will last until November 12.
As it has already become known, the sale price has been set at 1000 euros per bond with a minimum participation of 1000 euros, while the yield range will be between 2.4 and 2.9% and 250 million euros will be raised. ELVALHALCOR bond will have a duration of 7 years.
In an event held on the occasion of the issuance of the corporate bond, the management of ELVALHALCOR stressed that the funds raised will be used as follows:
30 million euros for the purchase of land with buildings for the creation of a logistics and product distribution center, 60 million euros will be used as working capital, while 154 million euros will be used to refinance the company’s debt.
As it was emphasized after the completion of the new investment for the installation of the new cold roller, the production capacity of the company will reach 520 thousand tons.
This increase in capacity creates new needs in the field of logistics and for this purpose the company invests in the purchase of plots that will be used in this direction.
Regarding the refinancing of the loan, which will be done with the funds that will be raised from the bond, as stated by the administration, the current average cost of borrowing is around 3%, while the short-term is a little more.
At the same event, data from the recent research conducted by IOBE on the imprint of ELVALHALCOR in the economy and society were presented.
As it was emphasized, the international sales of the group correspond to 7.5% of the exports of industrial products of the country, while the average value that the company produces reaches 1.5 billion euros.
The added value produced directly by the company annually exceeds 200 million euros, while in terms of employment it maintains 14 thousand jobs, which correspond to 0.3% of total employment in the country. At the same time, each job in the company supports another 5 in the whole economy.
The main message based on the study is that ELVALHALCOR is a real national champion for the economy, society and exports, said the director of copper and alloy extrusion DG P. Lolos.
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Source From: Capital
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