- The Portuguese company chooses this BME market to broaden and diversify its investor base in Spain
MARF, BME’s Fixed Income market, today admitted to trading a new bond issue from Portuguese porcelain company VAA -Vista Alegre Atlantis with a value of 45 million euros, maturity in 2024 and a 4.5% coupon. The transaction has been mainly subscribed by Spanish and Portuguese institutional investors.
CaixaBank has acted as Lead Manager and Placement Entity of the issue. Banco BPI has acted as payment agent and VGM Advisory is the Registered Advisor of Vista Alegre in MARF.
Morais Leitão, Galvão Teles, Soares da Silva & Associados has advised the issuer on the legal aspects of this transaction and Vieira de Almeida & Associados has participated representing the Lead Manager.
Rating agency Axesor Rating has assigned a BBB- rating to the bond issue, with stable outlook.
Founded in 1824 as Ferreira Pinto e Filhos, the Vista Alegre Porcelain Factory was the first industrial unit dedicated to producing porcelain in Portugal and five years later gained the title of Royal Factory. Throughout its almost 200 years of history Vista Alegre has earned itself an image of quality and distinction in the household and porcelain industry that have helped it expanding its production to the glassware, cutlery or decoration sectors to become a brand with world recognition. In 2009 Grupo Visabeira acquired a 63.46% interest in VAA through its subsidiary Cerutil.
In 2018 VAA - Vista Alegre Atlantis posted total income of 99.02 million euros. The company has been listed on the Portuguese stock market since 1987.