BUCHAREST (Romania), July 21 (SeeNews) – Canned meals producer Prefera Meals stated on Wednesday that it has raised 5 million euro ($5.9 million) in a non-public bond placement and plans to develop in Europe and the U.S.
Prefera Meals will use the funds to finance the deliberate enlargement in Europe and within the U.S, the place it intends to launch its newest Unfished product vary providing a vegetable different to tuna and salmon, it stated in a press launch.
“This primary success of acquiring the mandatory funds to develop our manufacturing capability and intensify the worldwide distribution of this model born in Alba Iulia makes us comfortable and extra formidable,” Prefera Meals CEO Raul Ciurtin stated.
The corporate plans to develop manufacturing capacities and canopy advertising and marketing bills for the promotion of latest merchandise in Romania and Germany, the place the Unfished product vary will quickly be obtainable. On the identical time, it’s contemplating to spend money on mounted belongings with a view to improve manufacturing capability.
The euro-denominated bonds had been issued in a non-public placement held throughout July 16-20. The securities have a maturity of 5 years and a set annual coupon price of seven.5%, payable semi-annually.
The nominal worth of a bond is 500 euro and the minimal subscription for the funding was 25,000 euro. The preliminary worth of the provide of three million euro was elevated by the issuer to five million euro resulting from excessive curiosity from taking part buyers. Prefera goals to checklist the bonds on the multilateral buying and selling system operated by the Bucharest Inventory Change.
Based in 2009, Prefera operates a manufacturing unit in Alba Iulia, central Romania, and has some 140 staff.