The Negotiable Obligation will be tendered next Monday the 21st. It will have two tranches: one for three years and another for five.
In search of obtaining US$40 million of the market, the company Investments and Representations Public Limited Company (IRSA) will launch next Monday a Negotiable Obligation (ON) for small savers. The minimum amount to subscribe will be US$100.
The real estate developer announced this Wednesday the issuance of a ON for US$40 million, in foreign currency and with full repayment of capital upon maturity. The instrument will be divided into two sections: one with expiration three years and another to five years.
From the company he presides Eduardo Elsztain They announced that the ON interest payment will be semiannual. The three-year tranche will be in MEP dollars, while the five-year tranche will be in MEP dollars or in kind (class XV). The bond has been rated AA+ (arg) by FIX SCR SA
“The idea is to offer an alternative for small investors who have their savings in dollars deposited in their checking accounts or in safe deposit boxes”said Matías Gaivironski, CFO of IRSA, when communicating the company’s financial news. The rate will be tendered on Monday.
Gaivironski explained that the purpose of the issue will be to finance “in part the ambitious plan of works for housing that the company is undertaking.” The plan includes the projects of Ramblas del Plata (former Ciudad Deportiva), former Mercado del Plata, towers in the DOT Polo and in the vicinity of Alto Rosario and a shopping center and homes in La Plata.
The details of the ON that IRSA will launch for small savers
- The issue will be for US$40 million with full repayment of capital upon maturity.
- The minimum amount to subscribe will be US$100
- Two sections; one with a maturity of three years and the other of five years (both in dollars)
- The interest rate will be tendered on Monday
- Interest payment will be semiannual
- The integration of the three-year tranche will be in MEP dollars; In the case of the five-year section it will be in MEP dollars or in kind (class XV)
- AA+ bonus (arg) according to FIX SCR SA
Source: Ambito
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