Agroton plans Eurobond issue
2011-05-06 17:10:35
Agroton Public Limited, one of the largest agricultural producers in Ukraine, announced plans to issue Eurobonds worth USD 100 million in May 2011, according to Jaspen Capital Partners, the Co-Lead Manager to manage Agroton's debut US$ Regulation S Eurobond issue.
The company also noted that Fitch Ratings assigned Agroton Public Limited's planned notes foreign-currency senior unsecured rating of 'B-(exp)' and an expected Recovery Rating of 'RR4' and Standard & Poor's Ratings Services assigned 'B-' long-term corporate credit rating.
Agroton has been listed on the Warsaw Stock Exchange since November 2010.
As UKRINFORM reported, last October Agroton raised USD 54 million for a 26% shareholding as part of the initial public offering (IPO) at the Warsaw Stock Exchange (WSE).
The Agroton Group is one of the largest diversified vertically integrated agricultural producers in Ukraine. The company's core business is the cultivation, processing, storage and sale of grain, chiefly sunflower and wheat. The company also handles production and sale of livestock as well as food production.
The company operates storage facilities with a capacity of about 235,000 metric tons, which allows it to store its products for sale during the most favorable prices periods. The current capacity of Agroton's grain elevators makes it the largest grain elevator operator in Luhansk region.