On December 11th, the Public Offering for the bond of 100 million euros issued by Ideal will begin, while on December 8th, the interest rate range will be disclosed.
The company released an informative document regarding the issuance, explaining how it intends to use the proceeds. Specifically, the total capital to be raised in case of full coverage is €95.8 million, excluding issuance expenses of approximately €4.2 million (including VAT). The company aims to allocate the funds as follows:
I. An amount of €74.8 million will be allocated within 3 months from the Issuance Date to repay the existing bank loan of the Issuer. The company will allocate:
- An amount of €29.92 million plus related interest and other expenses for the early repayment to the anonymous banking company under the trade name "EUROBANK" to settle debts within the framework of the Common Bond Loan from 30.8.2023.
- An amount of €29.92 million plus related interest and other expenses for the early repayment to the anonymous banking company under the trade name "PIRAEUS BANK" to settle debts within the framework of the Common Bond Loan from 30.8.2023.
- An amount of €14.96 million plus related interest and other expenses for the early repayment to the anonymous banking company under the trade name "ALPHA BANK" to settle debts within the framework of the Common Bond Loan from 30.8.2023.
II. The remaining amount, i.e., €21 million from the total net raised capital, after the allocation of the above under (i), will be used for financing future acquisitions of companies by the Issuer or any of its Subsidiaries within 24 months from the Issuance Date