MARF admits to trading a new issue by SUGAL

For the second time, to the value of €23 million


The Portuguese company Sugal has launched a new bond issue on MARF under the €80 million Programme registered with the market.


The term for this second issue, made through its subsidiary OCII BV, is three years, with maturity in 2019, and has a fixed annual coupon of 3%, the total amount of the new reference is €23 million. With this transaction - which follows the previous bond issue carried out in October 2015 worth €42 million and a 4.25% interest rate - the company completes its annual funding target in MARF.

Alantra acted as the sole bookrunner for the new issue and Registered Adviser in MARF. Cuatrecasas, Gonçalves Pereira advised the issuer on Spanish and Portuguese Laws, Loyens & Loeff on Dutch Law and Carey y Cia. Ltda on Chilean Law.

Axesor Rating has a BBB rating assigned to the issuer with a stable outlook.

The Portuguese Group Sugal specialises in the manufacturing of tomato paste and fruit pulp globally through its subsidiaries: Sugal-Industrias de Alimentação Portugal; Sugal Chile Limitada and Tomates del Sur in Spain. It currently has five industrial plants in Portugal, Spain and Chile and its main customers include Heinz, Unilever, Pepsico and RPB. In 2015 it reported consolidated sales of €265 million and EBITDA of €48 million.





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