Benfica SAD receives 50 million with 1.35 times higher demand than supply
Benfica's SAD raised 50 million euros (ME) with the bond loan, according to the results released today, with the demand exceeding the offer by 1.35 times, that is, close to 68 ME.
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Economia Benfica SAD
"The objective was achieved, this issue was a success and we are extremely satisfied. Starting at 35 million euros and ending at almost 68 million euros is very significant for us. And the ratio of 1.35 is very interesting", said Luís Mendes, vice-president of the SAD of the 'eagles', during the special session that took place at Euronext Lisbon, the manager of the Portuguese stock exchange.
In addition to the new bonds "Benfica SAD 2024-2027", with a gross interest rate of 5.10% and a maturity of three years, which allowed for a collection of close to 33 million euros, the operation also involved an offer to exchange the securities that were issued in 2021, with maturity on July 28, 2024, and that offered an interest rate of 4%, having been exchanged for about 17 million euros.
"Practically one in every two investors participated in the exchange offer", pointed out Luís Mendes, considering that Benfica's "immaculate path" in the capital market justifies the investors' confidence in the SAD 'incarnate'.
The financial consideration of the exchange offer was 165 thousand euros, according to the final data of the operation, which, together, had a total of 3,524 investors.
Of these, 2,563 investors participated in the offer of new bonds, with the majority (1,525) applying between 2,505 euros and 5,000 euros, while 961 investors joined the offer to exchange securities.
President Rui Costa was absent from the session, unlike usual, as he was accompanying the football team that today visits Farense, starting at 8:15 pm, in a match of the 30th round of the I League.
Read Also: Benfica SAD increases the value of the bond loan to 50 million (Portuguese version)
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