The bond offer will be available for almost three weeks. Benfica's SAD intends to obtain €35 million, with a 4% interest rate.
Benfica is back on the market, with a new debt issue with small investors. It wants €35 million through bonds aimed at retailers that can start being subscribed from July 5. The rate offered is 4%.
Domingos Soares de Oliveira, CEO of Benfica’s SAD, had already revealed that he would go ahead with this new financing operation, and the prospectus has now been published by the CMVM.
“The offer concerns up to 7,000,000 Benfica SAD 2021-2024 bonds, with a unit nominal value of €5 and an initial global value of up to €35 million, which may be increased,” SAD says, adding that “the interest rate of the Benfica SAD 2021-2024 Bonds is fixed and corresponds to 4%.”
These bonds can be subscribed by investors “between 8h30 a.m. on July 5 2021 and 3h00 p.m. on July 23 2021,” meaning the offer will be available for practically three weeks.
“Each subscription order must be submitted in amount and refer to at least 400 Benfica SAD 2021-2024 bonds, corresponding to a minimum investment amount of €2000, and, from that minimum amount, each subscription order must refer to multiples of €5,” equivalent to one bond.
“The results of the offer will be processed and calculated by Euronext in a special session to determine the results of the offer, which is expected to take place on July 26 2021,” Benfica explained.