Bucharest, October 8, 2024 – RBJ – In September 2024, the Romanian company Norofert, the main producer of organic inputs for agriculture and supplier of biotechnology for agriculture in Romania, announces that it is expanding its international presence by entering the Brazilian market. In a press release, the company announces that the establishment of the new entity, Norofert Brasil LTDA, represents an important step in the company’s strategy to bring its advanced technology to one of the largest agricultural markets in the world.
Today, through a current report addressed to the Bucharest Stock Exchange, Norofert announces that the Board of Directors has decided to launch a public offer for the sale of corporate bonds. The decision comes in the context of the company’s strategy to attract additional financing for investments in the expansion of the irrigation system at the farm in Zimnicea (Romania) and the activity in the foreign markets of the USA and Brazil, where the company has been active since this year.
The President of the Administrative Council, Andrei Vlad Popescu, emphasized: “Through this decision, the public offering of up to 150,000 registered, dematerialized, unconditional, unsecured, and non-convertible bonds, with a maximum value of RON 15 million, has been approved. The The company intends to use the funds for investments in irrigation at the Zimnicea farm and for investments aimed at expanding its activities in external markets where it operates.
The nominal value of the bonds will be RON 100 per bond, with a fixed annual nominal coupon rate of 10% over the life of the bonds. Coupon payments will be made semi-annually, and the bonds will have a maturity of 5 years.
The bonds can be redeemed early, but only in full, at the initiative of the Company starting from the second year of the bond’s life, in which case the Company will pay the bondholders a “clean” redemption price of 101%.”
The offering of the new corporate bond issuance is being facilitated by TradeVille S.A.
The public offer will take place over a period of 10 working days, with the possibility of early closing. The successful condition of the offer is the subscription of a minimum number of 50,000 bonds, which is the equivalent of 5 million lei. The offer is brokered by TradeVille S.A.
The first issue of corporate bonds (with the symbol NRF25) of the company had a value of 11.5 million lei, it matures in 2025 and has a fixed annual coupon rate of 8.5%, payable semiannually.
In the first half of the year, Norofert recorded a turnover of 21.04 million lei, an increase of 4.27% compared to the same period in 2023 and a net profit of 1.85 million lei, decreasing compared to the same period in 2023, but above the budgeted level for the current year.
