DGAP-News: Ekosem-Agrar issues corporate bond at 8.75% p.a.
(firmenpresse) - DGAP-News: Ekosem-Agrar GmbH / Key word(s): Bond/Corporate Action
Ekosem-Agrar issues corporate bond at 8.75% p.a.
06.03.2012 / 15:58
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Ekosem-Agrar issues corporate bond at 8.75% p.a.
- Subscription period of the agricultural bond to commence on 12 March 2012
- Issue volume of up to EUR 50 million
- Russia's third largest milk producer continues strong growth
Walldorf, 6 March 2012 - Ekosem-Agrar GmbH, the German holding company of
Russian milk producer Ekoniva Group, has announced the details of the
planned corporate bond issue of up to EUR 50 million. The Ekosem-Agrar bond
(WKN: A1MLSJ, ISIN: DE000A1MLSJ1) carries a fixed interest rate of 8.75%
p.a. and has a term of 5 years. Subscription period is scheduled to
commence on 12 March and to end on 21 March 2012. The bond will be
targeting at institutional investors and asset managers as well as retail
investors. The bond will be trading in the Bondm segment of the Stuttgart
Stock Exchange and will be the first bond in 2012 to be listed in this
segment. Retail investors can subscribe to the bond with a minimum
denomination of EUR 1,000 directly by placing an order through their bank
at the Stuttgart Stock Exchange. FION GmbH is the Bondm Coach, while
equinet Bank AG is mandated as the lead manager.
The bond offering includes several covenants such as a change of control
clause as well as a full dividend restriction during the entire term of the
bond. 'The bond gives investors the opportunity to benefit from the
promising agricultural sector in a fast-growing and huge emerging country,'
says Stefan Dürr, CEO of Ekosem-Agrar GmbH. 'The current shareholders are
equally convinced of these opportunities and have committed themselves to a
full dividend restriction.' Stefan Dürr is the founder of the company and
has been active in Russia's agricultural sector for almost 20 years. He was
awarded the Order of Merit of the Federal Republic of Germany in
recognition of his contributions to the German-Russian agricultural
dialogue in 2009.
Some 160,000 hectares of agricultural land (equivalent to nearly two thirds
of the size of the Saarland) and some 30,000 cattle, including 12,000 dairy
cows, make Ekosem-Agrar one of the leading agricultural corporations in
Russia. In the past financial year, the company's operating profit
increased by 557% to EUR 13.8 million. The company will use the proceeds
from the bond issue to finance its continued growth and to optimise its
financing structure. Creditreform, a EU rating agency officially
acknowledged by the Federal Financial Supervisory Authority (BaFin), has
given Ekosem-Agrar GmbH a rating of BB+, which shows that the company's
credit standing is above the average of the corporate sector as a whole.
From the very beginning, the Group, which meanwhile employs roughly 3,000
people, has relied on a sustainable business model and the highest quality
standards. As a result, it has become the third largest milk producer in
Russia in the course of only a few years. In the past financial year, the
annual milk output exceeded 50,000 tons, which represents an increase of
70% on the previous year. Over 80,000 tons are planned for the current
financial year. In addition, Ekosem-Agrar is a leading seeds producer and
is significantly expanding its premium beef operations in Russia.
Russia offers fantastic opportunities forfarming. It is the largest
territorial state in the world, and the Black Soil region, which is the
company's prime area of activity, is considered one of the most fertile
regions worldwide. The framework conditions in the dairy market could
hardly be better. At 44 euro cents, the milk price is much higher than in
Germany. This is due to the fact that Russia can cover only 60% of its milk
consumption and some 8 million tons of milk equivalent need to be imported
each year. This is equivalent to the output of one million dairy cows.
'We have gained a leading market position over the past years. Building on
our established business model, we want to expand this position and
continue profitable growth at our existing six locations', says Wolfgang
Bläsi, CFO and Managing Director of Ekosem-Agrar GmbH. The company intends
to increase the number of dairy cows to roughly 21,000 and to expand its
agricultural land to 230,000 hectares by the year 2015.
Facts&figures of the agricultural bond
Subscription period: 12 - 21 March 2012 subject to preliminary closure
Issue volume: Up to EUR 50,000,000
WKN / ISIN: A1MLSJ / DE000A1MLSJ1
Interest rate: 8.75%
Term: 5 years
Interest payment: Annually, first payment on 23 March 2013
Redemption price: 100%
Denomination: EUR 1,000
Type of security: Partial bearer bonds
Stock exchange segment: Bondm, Stuttgart Stock Exchange
Company rating: BB+ (Creditreform Rating AG)
Legally binding securities prospectus available for download in German only
at www.ekosem-agrar.de/de/anleihe
Disclaimer:
This information does not constitute an offer to buy securities of
Ekosem-Agrar GmbH and should not be regarded as a substitute for a
securities prospectus. Any investment decision regarding the bond issued by
Ekosem-Agrar GmbH must be based exclusively on the securities prospectus
approved by the Federal Financial Supervisory Authority, which can be found
at www.ekosem-agrar.de.
About Ekosem-Agrar
Ekosem-Agrar GmbH, based in Walldorf, Germany, is the holding company of
Ekoniva Group, one of the biggest Russian agricultural companies. The
company is the third-largest milk producer in Russia, owning 30,000 cattle
and generating an average daily milk yield of 215 tons. The Group has an
overall area of 160,000 hectares at its disposal and ranks among the
leading producers of seeds. As a third area of activity the company
currently develops the premium beef business. Stefan Dürr, founder and
managing director of the company, has been working in the Russian
agriculture business since the end of the 1980s and made a significant
contribution to shaping the sector's modernization during the past two
decades. In 2009, Stefan Dürr was awarded the Order of Merit of the Federal
Republic of Germany for his commitment to the German-Russian dialog on
agriculture. The Group employs approximately 3,000 employees at six sites
across Russia, and has achieved an operating output in FY 2010/2011 of EUR
81m.
More information: www.ekosem-agrar.de
Contact
Judith Moering
Ekosem-Agrar GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf (Germany)
t: +49 (0) 6227 8890 300
e: judith.moering(at)ekosem.de
Press / Investor Relations
Fabian Lorenz
IR.on AG
t: +49 (0) 221 9140 974
e: fabian.lorenz(at)ir-on.com
End of Corporate News
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06.03.2012 Dissemination of a Corporate News, transmitted by DGAP - a
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Language: English
Company: Ekosem-Agrar GmbH
Johann-Jakob-Astor-Str. 49
69190 Walldorf
Germany
Phone: +49 (0)6227 358 59 33
Fax: +49 (0)6227 358 59 18
E-mail: info(at)ekosem-agrar.de
Internet: www.ekosem-agrar.de
ISIN: DE000A1MLSJ1
WKN: A1MLSJ
End of News DGAP News-Service
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