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Fertiberia commissions two banks to test a bond issue in the Norwegian market worth 175 million

MADRID, 17 Abr.

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Fertiberia commissions two banks to test a bond issue in the Norwegian market worth 175 million

MADRID, 17 Abr. (EUROPA PRESS) -

Fertiberia has commissioned the investment banks Arctic and Pareto Securities to test the waters for a potential issuance in the Norwegian market of four-year senior secured bonds amounting to €175 million.

This was communicated this Wednesday by the company to the National Securities Market Commission (CNMV), specifying that the two banks chosen as 'joint bookrunners' for this operation will hold meetings with fixed income investors starting this Wednesday regarding this Possible bond issue.

Fertiberia has explained that the net proceeds obtained from this issue, which will be subject, among other factors, to market conditions, would be used to refinance the currently existing senior secured bond, "which would be fully amortized."

The company recorded consolidated losses of 4.4 million euros in the first quarter of the year, compared to the 3.7 million profit recorded in the same period of 2023.

The company's net turnover increased by 4% in the first three months of the year, to 307 million euros, thanks to the recovery in demand, and its net debt was reduced to 172.7 million euros. below the 183.2 million at the end of 2023.