Romania’s Agricover Holding reportedly to issue €40mn bonds

By bne IntelliNews January 26, 2021

Agricover Holding, a Romanian group that provides services to local farmers, will issue €40mn worth of bonds under a private placement, Profit.ro reported, after the company’s shareholders approved the move.  The company will later float the papers on the Bucharest Stock Exchange (BVB).

Agricover Holding Group is controlled by Iranian businessman Jabbar Kanani (87.2%), a major player in the local agricultural market, while the European Bank for Reconstruction and Development (EBRD) holds a 12.7% minority stake.

The bonds will have a maturity of seven years and a nominal value of €50,000 or €250,000 (to be decided by the managing board), making them inaccessible to small individual investors.

The company's managing board will also decide the yield upon the book-building process.

The group includes the companies Agricover, Agricover Credit IFN, and Abatorul Peris. The agri-business division comprises mature business lines — distribution of inputs (seeds, pesticides, fertilisers and diesel), grain trade, silage services, milk recovery — and the group's new businesses  — distribution of fresh vegetables and fruits and pork processing. The agri-finance division includes financing and specialised insurance services for agriculture.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Annual inflation Uzbekistan edges up to 8.1% in April from 8.0% in March

Inflation in Uzbekistan was in April recorded at  0.93% m/m and 8.08% y/y, according to the national ... more

Uzbekistan's 4M24 budget deficit hits $2bn, sparking fiscal concerns

The state budget deficit of Uzbekistan, amounting to Uzbekistani som (UZS) 25.6 trillion ($2.0bn) in the first four months of 2024, has surpassed expectations, raising concerns about the country's ... more

Mirziyoyev commends $74bn of foreign investment and IFI inflows as third Tashkent International Investment Forum kicks off

The foreign investment inflow into Uzbekistan has topped $60bn in recent years, President Shavkat Mirziyoyev noted as the third Tashkent International Investment Forum (TIIF-2024) got under way. ... more

Follow Us On

Most Read

  1. Shocking trial of ex-minister has shifted domestic violence attitudes in Kazakhstan, says brother
    2 days ago
  2. Cheap Russian drones overwhelm US-made Abrams tanks, taken out of action
    8 days ago
  3. The models are wrong, climate change is accelerating faster than predicted
    9 days ago
  4. Russia already treating Bosnia’s Republika Srpska as an independent state
    9 days ago
  5. Saddam-era Iraqi howitzers get delivered to Ukraine
    7 days ago
  1. Albanians campaign on social media to keep bus bridge created in freak accident
    2 years ago
  2. Saudi Arabia to scale back plans for Neom city
    24 days ago
  3. Iran vs Israel: Who is better equipped for war?
    21 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    6 months ago
  5. Leading emerging markets move rapidly up World Bank’s PPP GDP and FDI confidence rankings
    25 days ago

Reports

Dismiss