The SIC increased its bond issue from 30 to 48 million euros, an option that was already planned, with a gross fixed interest rate of 5.95%, as communicated to the market this Wednesday.
“[…] On June 26, 2024, the SIC decided to increase the maximum number of bonds representing the bond loan called ‘Sustainability-Linked Bonds SIC 2024-2028’ […] for up to 1,600,000 bonds,” reads the statement sent to the Securities Market Commission (CMVM).
So, the global nominal value went from 30 million euros to 48 million euros.
On June 11, the SIC had announced the launch of a new issue of up to one million bonds.
The possibility of an increase was already foreseen in the prospectus.
The unit value remains at 30 euros, with a gross fixed interest rate of 5.95%.
Each bond will be redeemed at face value on July 3, 2028.
Bondholders will be entitled to receive additional remuneration if the performance and sustainability targets defined by the SIC are not met. (SPT).
The amount of the additional remuneration corresponds to 40% of the nominal value of each obligation.
“[…] Bondholders will not have the right to receive additional remuneration if a situation of early repayment or a situation of default occurs, unless, in any of these cases, a situation of non-verification of the SPT has occurred before the date amortization of SIC bonds 2024.-2028”, he highlighted.
In June 2021, SIC closed a bond issue worth 30 million euros, with demand 2.67 times higher than the value of the offerreaching 80.04 million euros.
Source: Observadora
