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Sipcam to raise €15 million through bond issue
Oct. 7, 2014
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The Italian agrochemicals company Sipcam is seeking to raise nearly € 15 million through the issue of five-year bonds. The bonds will have a fixed rate of 6.50% that will be paid quarterly.
The company, headquartered in Milan, will have a sponsorship of Assolombarda – an association of industrial sectors that operate in the provinces of Milan, Bondi, Monza, and Brianza. The operation is executed by Popolare di Vicenza Bank.
Sipcam wants to take advantage of the good moment to capitalize. "These bonds are an important step for our Group, which is experiencing a significant growth phase. We are at a moment where the agricultural sector expresses positive expectations worldwide", said Nadia Gagliardini, president of Sipcam.
Sipcam-Oxon posted an 11.7% increase in agrochemical sales to €377 million ($513.4 million at the current rate) in 2013.
Source: AgroNews
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