OCII registers a €80 million programme with MARF

The first foreign company to issue on MARF

Dutch company OC International Investments (OCII) has launched a continued Fixed Income Programme on MARF to the value of €80 million, thus becoming the first foreign issuer to seek funding through MARF and the second to access finance via this market’s Fixed Income Programme. 

The Fixed Income Programme will allow the company to issue bonds worth €80 million in the next 12 months, with fixed interest rates and maturities ranging between 3 and 8 years. 

N + 1 and ASK (Advisory Services Kapital - Portugal) have coordinated the structuring and design of the programme. Besides, N + 1 is also acting as underwriter of the issues and Registered Adviser on MARF. As regards Spanish and Portuguese laws, the issuer has hired Cuatrecasas Gonçalves Pereira as its legal advisor, Loyens & Loeff as advisor on Dutch law and Carey y Cia as advisor on Chilean law. Axesor Ratings has assigned the issuer a BBB rating with a stable outlook.

OCII is owned by Portuguese parent company SOGEPOC and is part of the Sugal group. The Portuguese food group Sugal specialises in the manufacturing of tomato concentrates and fruit pulp. In 2014 it was the world’s fourth largest producer of tomato paste in terms of processing capacity (more than 1.5 million tons/year), the first for peach pulp and the second for apple. It operates 5 industrial plants in Portugal, Spain and Chile and its main customers include Heinz, Unilever, Pepsico and RPB. In 2014 it posted consolidated sales of € 214 million and EBITDA of €40 million.