Stock Groups

Tereos seeks new 300 million euros bond to repay some debt -Breaking

by Mike Robinson

[ad_1]

© Reuters. FILEPHOTO: This view depicts a logo located at the entry to the Tereos Sugar Factory in Escaudoeuvres. France, June 1, 2021. REUTERS/Pascal Rossignol

PARIS (Reuters). – French sugar and ethanol company Tereos announced Monday that its subsidiary Tereos Finance Groupe I would launch senior unsecured notes in the amount of 300 million euros ($340.17million) subject to market conditions. This will be used to repay debt.

According to a financial release, the bond was due in 2027. Similar notes were already issued by the group in October 2020. They are due to mature in 2025.

Tereos, the world’s second-largest sugar producer by volume, had been grappling with low prices after the end of European sugar quotas in 2017, which had hit the sugar maker’s results for several years and driven up its debt levels.

($1 = 0.8819 euros)

Disclaimer: Fusion MediaThis website does not provide accurate and current data. CFDs include stocks, indexes and futures. Prices are provided not by the exchanges. Market makers provide them. Therefore, prices can be inaccurate and differ from actual market prices. These prices should not be used for trading. Fusion Media is not responsible for trading losses that may be incurred as a consequence of the use of this data.

Fusion MediaFusion Media and anyone associated with it will not assume any responsibility for losses or damages arising from the use of this information, including buy/sell signal data. Trading the financial markets is one of most risky investment options. Please make sure you are fully aware about the costs and risks involved.

[ad_2]