Categories: Sports

Sporting asks for a loan of 30 million euros

This Thursday, Sporting moved forward with a new bond proposal worth 30 million euros. However, this value may be increased by adding to the prospectus, which will be published on CMVM by the 20th, two days before the end of the subscription period.

The latest general assembly of Leonine SAD is authorized to issue new debt of up to 50 million euros. The administration’s goal is to reach at least 40 million euros, the value of the bond issued in 2021 and due on November 25 this year.

To this end, SAD begins by proposing an exchange transaction. In other words, for every old bond delivered, bondholders receive interest until the 22nd of that month (0.07802 euros per unit) and a new bond due in November 2027 at a higher interest rate: 5.75%. This is 0.5 percentage points higher than the value (5.25%) of the two previous issues. At the same time, new bonds will be available in the missing volume after the exchange operation to achieve the fixed amount.

Author: João Moniz
Source: CM Jornal

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