Series 1 ONs, not convertible into shares, will yield 8% annual effective interest on the capital amount, payable quarterly. The repayment period will be 5 years from the date of issue, reported Gastón Bengochea y Cía Stock Brokerwho will be the structuring agent, in a presentation to which he agreed Ambit.
The Montevideo Stock Exchange (BVM)) will, meanwhile, be the registering entity and payment agent for the Ebital issue that will take place on Wednesday the 22nd and Friday the 24th. The allotment system will be the cut-off under the Dutch modality.
The capital will be amortized in annual installments of 25% of the total amount over five years, beginning at the end of the grace period. The minimum investment will be 5,000 dollars and each ON will have a nominal value of one dollar.
“We believe that it will be in high demand and could be a good opportunity to place at a good rate,” Gastón Bengochea and Cía Corredor de Bolsa told Ámbito.
The ONs have as guarantee a trust with a pool of works that includes construction contracts Malvin II Tower II for 4 million dollars, with backing from Peninsula Real Estate Group (who has a public offering trust invested by the AFAP); and the O2 for 12 million dollars with backing from ACSA and Independence Asset Management (Chilean investment fund).
Furthermore, additional credits will be incorporated against Antellinked to telephone infrastructure network supply services and counter quarters where Ebital SA carries out lighting replacement work, for example, Maldonado.
“This will allow us to maintain a debt coverage ratio of 175% (issued debt vs. assigned credits) at all times,” they noted.
Ebital, which has carried out works such as tower 4 of WTChe Carrasco airport and the Sodre theater complexprojects sales of 46 million dollars for this year and about 68 million in 2025.
Source: Ambito
