The construction Ebital SA issued this week the first simplified regimen of debt issuance on the stock market Uruguay and exceeded the offer, a fact that the company described as a success.
Meanwhile, 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, as reported from Gastón Bengochea, and Cía Corredor de Bolsa during the presentation.
The demand for 6.5 million dollars exceeded the offer and was described as “a complete success,” according to what the managing partner of Gastón Bengochea Corredor de Bolsa, Diego Rodríguez, told El Observador and clarified that the next day it was already operating. in the secondary market of the Stock Exchange.
On the other hand, he assured that it is an action that will be repeated by the company. “We believe it is the first of several emissions under this new regulatory framework promoted by the BCU and local agents,” Rodríguez said.
Good performance
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.
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
